BJ's Restaurants Just Filed Its Quarterly Report: 5.  NET INCOME PER S...

5.  NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if in-the-money stock options issued by us to sell common stock at set prices were exercised and if restrictions on restricted stock units (“RSUs”) issued by us were to lapse (collectively, equity awards) using the treasury stock method. Performance-based RSUs are considered contingent shares; therefore, at each reporting date we determine the probable number of shares that will vest and we include these contingently issuable shares in our diluted net income calculation. Once theses performance-based RSUs vest, they are included in our basic net income per share calculation.

The following table presents a reconciliation of basic and diluted net income per share, including the number of dilutive equity awards that were included in the dilutive net income per share computation (in thousands):

 

 

 

For the Thirteen Weeks Ended

 

 

 

April 2, 2019

 

 

April 3, 2018

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

12,864

 

 

$

14,664

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares outstanding – basic

 

 

21,056

 

 

 

20,586

 

Dilutive effect of equity awards

 

 

392

 

 

 

477

 

Weighted-average shares outstanding – diluted

 

 

21,448

 

 

 

21,063

 

 

For the thirteen weeks ended April 2, 2019 and April 3, 2018, there were approximately 0.3 million and 0.6 million shares of common stock equivalents, respectively, that were excluded from the calculation of diluted net income per share because they are anti-dilutive.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

BJ's Restaurants's Chief Information Officer just disposed of 1,536 shares - Dec. 10, 2019

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