Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
 6 Months Ended
Jun. 27, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted weighted-average shares outstanding are as follows: 
Six Months Ended
Three Months Ended
(In thousands)
 June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019
Weighted Average Shares - Basic
 30,784    32,640    30,756    32,665   
Net Effect of Dilutive Stock Options
 —    553    —    510   
Weighted Average Shares - Diluted
 30,784    33,193    30,756    33,175   
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 872,000 shares as of June 27, 2020 and 18,000 shares as of June 29, 2019. Further, due to our net loss in the six month period ended June 27, 2020, the assumed exercise of stock compensation had an antidilutive effect and therefore was excluded from the computation of diluted loss per share.