Earnings (Loss) Per Share

6 Months Ended

Jun. 29, 2021

Earnings (Loss) Per ShareBasic earnings (loss) per share (“EPS”) is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted EPS is calculated using net income (loss) available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options, warrants and RSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data):


	Fiscal Quarter Ended				Two Fiscal Quarters Ended
	June 29, 2021		June 30, 2020		June 29, 2021		June 30, 2020
Net income (loss)	$	5,683	$	(13,478)	$	3,706	$	(19,313)
Shares:
Basic weighted average shares outstanding	45,506,476		44,212,751		45,303,160		44,177,648
Effect of dilutive securities	739,693		—		688,959		—
Diluted weighted average shares outstanding	46,246,169		44,212,751		45,992,119		44,177,648
Earnings (loss) per share:
Basic earnings (loss) per share	$	0.12	$	(0.30)	$	0.08	$	(0.44)
Diluted earnings (loss) per share	$	0.12	$	(0.30)	$	0.08	$	(0.44)

The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. Potential common shares are excluded from the computation of diluted earnings (loss) per share when the effect would be anti-dilutive. The shares issuable on the vesting or exercise of share-based awards or exercise of outstanding warrants that were excluded from the calculation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive totaled 478,353 and 4,142,754 for the second quarters of 2021 and 2020, respectively, and totaled 730,847 and 3,309,278 for the first two quarters of 2021 and 2020, respectively.