Earnings Per Share (Going Concern Basis)

4 Months Ended

Dec. 16, 2020

Earnings Per Share (Going Concern Basis)

Basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the reporting period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted net income per share, the basic weighted average number of shares is increased by the dilutive effect of stock options determined using the treasury stock method. Stock options excluded from the computation of net income per share for the 12 week period ended November 18, 2020 and the quarter ended December 18, 2019 include 849,970 shares and 1,174,247 shares, respectively, with exercise prices exceeding market prices whose inclusion would also be anti-dilutive.

The components of basic and diluted net loss per share are as follows:


	Period Ended		Quarter Ended
	November 18, 2020		December 18, 2019
	(12 weeks)		(16 weeks)
	(In thousands, except per share data)
Numerator:
Loss from continuing operations	$	(3,003)	$	(8,327)
Loss from discontinued operations, net of income taxes	(16)		(11)
NET INCOME (LOSS)	$	(3,019)	$	(8,338)
Denominator:
Denominator for basic earnings per share—weighted-average shares	30,662		30,054
Effect of potentially dilutive securities:
Employee and non-employee stock options	—		—
Denominator for earnings per share assuming dilution	30,662		30,054

Loss per share from continuing operations:
Basic and diluted	$	(0.10)	$	(0.28)

Loss per share from discontinued operations:
Basic and diluted	$	0.00	$	0.00

Loss per share:
Basic and diluted	$	(0.10)	$	(0.28)