The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings.

The Company includes all unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding for basic EPS as these awards are considered participating securities. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock and are considered participating securities. As a result, the Company includes all outstanding restricted stock awards during the period in the calculation of basic and diluted EPS. As of July 5, 2026, there were no unvested restricted stock awards. Any unvested share-based awards considered non-participating securities (restricted share units and performance shares) are included in diluted EPS calculations when the inclusion of these shares would be dilutive. The following table shows the computation of basic and diluted EPS:


	Three Months Ended				Six Months Ended
	July 5, 2026		June 29, 2025		July 5, 2026		June 29, 2025
	(in thousands, except per share data)
Numerator:
Net income (1)	$	51,407	$	32,561	$	75,018	$	45,563

Denominator:
Weighted average shares outstanding	57,919		58,526		58,012		58,426
Participating securities	—		29		—		69
Shares for basic EPS	57,919		58,555		58,012		58,495
Dilutive effect of non-participating securities	377		518		644		628
Shares for diluted EPS	58,296		59,073		58,656		59,123

Basic EPS	$	0.89	$	0.56	$	1.29	$	0.78
Diluted EPS	$	0.88	$	0.55	$	1.28	$	0.77