Leslie's, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

Net Income Per Share

9 Months Ended

Jul. 03, 2021

Note 12—Net Income Per Share

The following is a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):

	Three Months Ended				Nine Months Ended
	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Numerator:
Net income	$	118,802	$	71,934	$	82,093	$	15,921
Denominator:
Weighted average shares outstanding - basic		188,264		156,500		184,021		156,500
Effect of dilutive securities:
Stock options		2,792		-		1,914		-
RSUs		3,144		-		3,668		-
Weighted average shares outstanding - diluted		194,200		156,500		189,603		156,500

Basic net income per share	$	0.63	$	0.46	$	0.45	$	0.10
Diluted net income per share	$	0.61	$	0.46	$	0.43	$	0.10

The weighted average potentially dilutive stock options and RSUs excluded from the computation of diluted net income per share were 0.5 million and 0.6 million for the three months ended July 3, 2021, respectively, and 0.2 million and 0.6 million for the nine month ended July 3, 2021, respectively. In addition, diluted weighted average shares outstanding excludes approximately 1.2 million stock options with performance conditions that have not yet been met or have not yet been established during the three and nine months ended July 3, 2021. There were no potentially dilutive securities outstanding during the three and nine months ended June 27, 2020.