Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.21.2
Earnings Per Share
 6 Months Ended
Jul. 03, 2021
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)
 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020
Weighted Average Shares - Basic
 30,914  30,784  30,926  30,756 
Net Effect of Dilutive Stock Options
 —  —  —  — 
Weighted Average Shares - Diluted
 30,914  30,784  30,926  30,756 
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 645,000 shares as of July 3, 2021 and 872,000 shares as of June 27, 2020. Further, due to our net loss in the three and six month periods ended July 3, 2021 and 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.