Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share
3 Months Ended
Apr. 03, 2021
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)
April 3, 2021 March 28, 2020
Weighted Average Shares - Basic
30,903  30,814 
Net Effect of Dilutive Stock Options
—  — 
Weighted Average Shares - Diluted
30,903  30,814 
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 652,000 shares as of April 3, 2021 and 785,000 shares as of March 28, 2020. Further, due to our net loss in the three month periods ended April 3,
2021 and 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.