Earnings (Loss) Per Share

3 Months Ended

Apr. 02, 2024

Basic 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
	April 2, 2024		April 4, 2023
Net loss	$	(6,140)	$	(3,115)
Shares:
Basic weighted average shares outstanding	45,079,355		46,115,506
Effect of dilutive securities	—		—
Diluted weighted average shares outstanding	45,079,355		46,115,506
Loss per share:
Basic loss per share	$	(0.14)	$	(0.07)
Diluted loss per share	$	(0.14)	$	(0.07)

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 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 3,317,111 and 3,100,963 for the first quarters of 2024 and 2023, respectively.