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Note M - Earnings Per Share
 3 Months Ended
Sep. 27, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]
M.
Earnings Per Share
 
The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Certain restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the
two
-class method. 
 
The components of basic and diluted earnings per share were as follows:
 
   
For the Quarter Ended
  
   
September 27, 2019
    
September 28, 2018
  
Basic:
  
 
 
 
  
 
 
 
Net (loss) income
   $
(6,293
 )   $
2,903
  
Less: Net earnings attributable to noncontrolling interest
    
(18
 )    
(41
 )
Less: Undistributed earnings attributable to unvested shares
    
-
      
(49
 )
Net (loss) income available to Twin Disc shareholders
    
(6,311
 )    
2,813
  
                 
Weighted average shares outstanding - basic
    
13,111
      
11,722
  
                 
Basic (Loss) Income Per Share:
  
 
 
 
  
 
 
 
Net (loss) income per share - basic
  
$
(0.48
)
  
$
0.24
 
                 
Diluted:
  
 
 
 
  
 
 
 
Net (loss) income
   $
(6,293
 )   $
2,903
  
Less: Net earnings attributable to noncontrolling interest
    
(18
 )    
(41
 )
Less: Undistributed earnings attributable to unvested shares
    
-
      
(49
 )
Net (loss) income available to Twin Disc shareholders
    
(6,311
 )    
2,813
  
                 
Weighted average shares outstanding - basic
    
13,111
      
11,722
  
Effect of dilutive stock awards
    
-
      
77
  
Weighted average shares outstanding - diluted
    
13,111
      
11,799
  
                 
Diluted (Loss) Income Per Share:
  
 
 
 
  
 
 
 
Net (loss) income per share - diluted
  
$
(0.48
)
  
$
0.24
 
 
 
The following potential common shares were excluded from diluted EPS for the quarter ended
September 27, 2019
because they were anti-dilutive:
167.8
related to the Company’s unvested PSAs,
178.8
related to the Company’s unvested RS awards,
38.0
related to the Company’s unvested RSUs, and
3.6
related to outstanding stock options.
 
The following potential common shares were excluded from diluted EPS for the quarter ended
September 28, 2018
because they were anti-dilutive:
180.6
related to the Company’s unvested PSAs,
170.4
related to the Company’s unvested RS awards,
28.2
related to the Company’s unvested RSUs, and
3.3
related to outstanding stock options.