EARNINGS PER SHARE
Basic income / (loss) per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. For fiscal 2024, restricted stock were excluded due to the net loss the Company incurred during the year.
The following table reflects a reconciliation of the shares used in the basic and diluted net (loss) / income per share computation for fiscal 2025, 2024 and 2023: 
Fiscal
(in thousands, except per share)202520242023
 BasicDilutedBasicDilutedBasicDiluted
NUMERATOR:    
Net income / (loss)213 213 (69,006)(69,006)57,148 57,148 
DENOMINATOR:
Weighted average shares outstanding - Basic52,955 52,955 55,613 55,613 56,682 56,682 
Dilutive effect of Equity Plans238 — 866 
Weighted average shares outstanding - Diluted53,193 55,613 57,548 
EPS:
Net income / (loss) per share - Basic0.004 0.004 (1.24)(1.24)1.01 1.01 
Effect of dilutive shares— — (0.02)
Net income / (loss) per share - Diluted0.004 (1.24)0.99 
Anti-dilutive shares (1)
2546715
(1) Represents the Relative TSR PSUs and Growth PSUs that are excluded from the calculation of diluted earnings per share for fiscal 2025, 2024 and 2023 as the effect would have been anti-dilutive.

Historical Timeline

Fiscal YearFiled
2025Nov 20, 2025Showing above
2024Nov 14, 2024
2023Nov 16, 2023
2022Nov 17, 2022
2021Nov 18, 2021
2020Nov 20, 2020
2019Nov 15, 2019
2018Nov 20, 2018
2017Nov 16, 2017
2016Nov 17, 2016
2015Nov 18, 2015

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.