Astronics Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Earnings Per Share

Earnings Per Share

6 Months Ended

Jun. 28, 2025

The following table sets forth the computation of basic earnings per share:


	Six months ended				Three months ended
(In thousands, except per share amounts)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Basic Earnings per Common Share:
Net Income (Loss) - Basic	$	10,842	$	(1,645)	$	1,314	$	1,533
Weighted Average Shares - Basic	35,347		34,936		35,406		35,007
Basic Earnings per Common Share	$	0.31	$	(0.05)	$	0.04	$	0.04

The following table sets forth the computation of diluted net income (loss) per share:


	Six months ended				Three months ended
(In thousands, except per share amounts)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Diluted Earnings per Common Share:


Net Income (Loss) - Diluted	$	10,842	$	(1,645)	$	1,314	$	1,533

Weighted Average Shares - Basic	35,347		34,936		35,406		35,007
Net Effect of Dilutive Stock Awards	712		—		962		540

Weighted Average Shares - Diluted	36,059		34,936		36,368		35,547

Diluted Earnings per Common Share	$	0.30	$	(0.05)	$	0.04	$	0.04

The Company includes the dilutive effect of shares issuable upon conversion of its Convertible Notes in the calculation of diluted income per share using the if-converted method. The Company has the option for the Convertible Notes to settle the conversion value in any combination of cash or shares, and as such, the maximum number of shares issuable are included in the dilutive share count if the effect would be dilutive. The Company excluded all impacts of the Convertible Notes from the computation of diluted earnings per share as the effect would be anti-dilutive.

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 Company incurred a net loss for the six months ended June 29, 2024, therefore all outstanding stock options and unvested restricted stock units were excluded from the computation of diluted loss per share because the effect of their inclusion would be anti-dilutive. The number of common shares excluded from the computation was approximately 399,000 shares as of June 28, 2025 and 1,072,000 shares as of June 29, 2024.