Note L - Earnings Per Share

3 Months Ended

Sep. 27, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

L. 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:

	September 27, 2024			September 29, 2023
Basic:
Net loss	$	(2,772	)	$	(1,083	)
Less: Net loss (income) attributable to noncontrolling interest		7			(90	)
Net loss attributable to Twin Disc, Incorporated		(2,765	)		(1,173	)
Weighted average shares outstanding - basic		13,778			13,527
Basic loss Per Share:
Net loss per share - basic	$	(0.20	)	$	(0.09	)
Diluted:
Net loss	$	(2,772	)	$	(1,083	)
Less: Net loss (income) attributable to noncontrolling interest		7			(90	)
Net loss attributable to Twin Disc, Incorporated		(2,765	)		(1,173	)
Weighted average shares outstanding - basic		13,778			13,527
Weighted average shares outstanding - diluted		13,778			13,527
Diluted loss Per Share:
Net loss per share - diluted	$	(0.20	)	$	(0.09	)

The following potential common shares were excluded from diluted EPS for the quarter ended September 27, 2024 because they were anti-dilutive: 84.5 related to the Company’s unvested PSAs, 0.0 related to the Company’s unvested PSUA awards, 157.2 related to the Company’s unvested RS awards, and 103.2 related to the Company’s unvested RSUs.

The following potential common shares were excluded from diluted EPS for the quarter ended September 29, 2023 because they were anti-dilutive: 265.0 related to the Company’s unvested PSAs, 5.2 related to the Company’s unvested PSUA awards, 108.5 related to the Company’s unvested RS awards, and 72.6 related to the Company’s unvested RSUs.