Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.21.2
Earnings Per Share
 9 Months Ended
Oct. 02, 2021
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)
 October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020
Weighted Average Shares - Basic
 30,927  30,780  30,954  30,770 
Net Effect of Dilutive Stock Options
 —  —  —  — 
Weighted Average Shares - Diluted
 30,927  30,780  30,954  30,770 
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 647,000 shares as of October 2, 2021 and 831,000 shares as of September 26, 2020. Further, due to our net loss in the three and nine month periods ended October 2, 2021 and 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.