Earnings Per Share
The following is a reconciliation of the amounts utilized in the computation of basic and diluted earnings per share for fiscal 2025, 2024 and 2023 (in thousands, except per share amounts):
 202520242023
Net income$172,885 $111,815 $139,094 
Basic weighted average common shares outstanding27,038 27,397 27,582 
Dilutive effect of share-based awards and options outstanding578 512 532 
Diluted weighted average shares outstanding27,616 27,909 28,114 
Earnings per share:
Basic$6.39 $4.08 $5.04 
Diluted$6.26 $4.01 $4.95 
In each year of fiscal 2025, 2024 and 2023, share-based awards for less than 0.1 million shares were not included in the computation of diluted earnings per share as they were antidilutive awards.

Historical Timeline

Fiscal YearFiled
2025Nov 14, 2025Showing above
2024Nov 15, 2024
2023Nov 17, 2023
2022Nov 18, 2022
2021Nov 19, 2021
2020Nov 20, 2020
2019Nov 15, 2019
2018Nov 16, 2018
2017Nov 17, 2017
2016Nov 18, 2016
2015Nov 20, 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.