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(Loss) Earnings Per Share
3 Months Ended
Mar. 30, 2020
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share

(15) (Loss) Earnings Per Share

The following is a reconciliation of the numerator and denominator used to calculate basic earnings per share and diluted earnings per share for the quarters ended March 30, 2020 and April 1, 2019:

 

 

 

Quarter Ended

 

 

 

March 30, 2020

 

 

April 1, 2019

 

 

 

(In thousands, except per share amounts)

 

Net (loss) income

 

$

(3,220

)

 

$

6,238

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares

 

 

105,686

 

 

 

104,315

 

Dilutive effect of performance-based restricted stock units, restricted

   stock units and stock options

 

 

 

 

 

1,299

 

Diluted shares

 

 

105,686

 

 

 

105,614

 

(Loss) earnings per share:

 

 

 

 

 

 

 

 

Basic

 

$

(0.03

)

 

$

0.06

 

Diluted

 

$

(0.03

)

 

$

0.06

 

 

For the quarter ended March 30, 2020, potential shares of common stock, consisting of stock options to purchase approximately 100 shares of common stock at exercise prices ranging from $9.54 to $16.60 per share, 2,459 restricted stock units (RSUs), and 216 performance-based restricted stock units (PRUs) were not included in the computation of diluted earnings per share because the Company incurred a net loss and, as a result, the impact would be anti-dilutive.

PRUs, RSUs, and stock options to purchase 1,089 shares of common stock for the quarter ended April 1, 2019 was not included in the computation of diluted earnings per share because the options’ exercise prices or the total expected proceeds under the treasury stock method for PRUs, RSUs, or stock options was greater than the average market price of common shares during the applicable quarter and, as a result, the impact would be anti-dilutive.

Outstanding warrants for the quarters ended March 30, 2020 and April 1, 2019, to purchase common stock were not included in the computation of dilutive earnings per share because the strike price of the warrants to purchase the Company’s common stock were greater than the average market price of common shares during the applicable quarter, and therefore, the effect would be anti-dilutive.

For the quarters ended March 30, 2020 and April 1, 2019, the effect of shares of common stock related to the Company’s Convertible Senior Notes, based on the if-converted method, were not included in the computation of dilutive earnings per share as the impact would be anti-dilutive.