Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.1
Earnings Per Share
 3 Months Ended
Mar. 28, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted weighted-average shares outstanding are as follows: 
Three Months Ended
(In thousands)
 March 28, 2020 March 30, 2019
Weighted Average Shares - Basic
 30,814    32,619   
Net Effect of Dilutive Stock Options
 —    595   
Weighted Average Shares - Diluted
 30,814    33,214   
Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares covered by out-of-the-money stock options was approximately 785,000 shares as of
March 28, 2020 and 154,000 shares as of March 30, 2019. Further, due to our net loss in the three month period ended March 28, 2020, the assumed exercise of stock compensation had an antidilutive effect and therefore was excluded from the computation of diluted loss per share. The number of instruments not included in the computation of diluted loss per share was 440,211 as of March 28, 2020.