Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2023

Basic and diluted earnings per share (EPS) for the quarter and two quarters ended June 30, 2023 and July 1, 2022 were as follows:


	For the Quarter Ended					For the Two Quarters Ended
(amounts in thousands, except per-share data)	June 30, 2023			July 1, 2022		June 30, 2023		July 1, 2022
Weighted-average number of shares outstanding during period		14,832			14,419		14,768		14,309
Common stock equivalents from incremental shares under equity-based compensation plans		—			703		631		741
Number of shares on which diluted earnings per share is based		14,832			15,122		15,399		15,050
Net income (loss)	$	(130	)	$	2,040	$	185	$	4,280
Net income (loss) per share
Basic	$	(0.01	)	$	0.14	$	0.01	$	0.30
Diluted	$	(0.01	)	$	0.13	$	0.01	$	0.28

Weighted-average shares represent the average number of issued shares less treasury shares, and for the basic EPS calculations, unvested restricted stock.

For the quarter ended June 30, 2023, the diluted share amount reported is equal to the basic per share amount as the Company was in a net loss position and as a result, any dilution from incremental shares under equity-based compensation plans would be considered anti-dilutive. If the Company had net income, and assuming dilution, certain options representing 1.0 million and 0.6 million shares of common stock were outstanding at June 30, 2023 and July 1, 2022, respectively, but would not have been or were not included in the computation of diluted earnings per share as their effect on the computation would have been anti-dilutive.