Earnings (Loss) Per Share

6 Months Ended

Jun. 28, 2022

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 28, 2022		June 29, 2021		June 28, 2022		June 29, 2021
Net income (loss)	$	1,345	$	5,683	$	(5,084)	$	3,706
Shares:
Basic weighted average shares outstanding	45,881,354		45,506,476		45,803,927		45,303,160
Effect of dilutive securities	227,366		739,693		—		688,959
Diluted weighted average shares outstanding	46,108,720		46,246,169		45,803,927		45,992,119
Earnings (loss) per share:
Basic earnings (loss) per share	$	0.03	$	0.12	$	(0.11)	$	0.08
Diluted earnings (loss) per share	$	0.03	$	0.12	$	(0.11)	$	0.08

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 that were excluded from the calculation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive totaled 1,798,409 and 478,353 for the second quarters of 2022 and 2021, respectively, and totaled 2,278,371 and 730,847 for the first two quarters of 2022 and 2021, respectively.