Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
 9 Months Ended
Sep. 26, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted weighted-average shares outstanding are as follows: 
Nine Months Ended
Three Months Ended
(In thousands)
 September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019
Weighted Average Shares - Basic
 30,780  32,427  30,770  31,964 
Net Effect of Dilutive Stock Options
 —  575  —  619 
Weighted Average Shares - Diluted
 30,780  33,002  30,770  32,583 
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 831,000 shares as of September 26, 2020 and 279,000 shares as of September 28, 2019. Further, due to our net loss in the three and nine month periods ended September 26, 2020, the assumed exercise of stock compensation had an antidilutive effect and therefore was excluded from the computation of diluted loss per share.