Earnings (Loss) Per Share

6 Months Ended

Jun. 26, 2021

Earnings Per Share, Basic and Diluted [Abstract]

EARNINGS (LOSS) PER SHAREThe Company's unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities and are included in the computation of earnings (loss) per share. Accounting guidance requires additional disclosure of earnings (loss) per share for common stock and unvested share-based payment awards, separately disclosing distributed and undistributed earnings. Undistributed earnings represent earnings that were available for distribution but were not distributed. Common stock and unvested share-based payment awards earn dividends equally. All earnings were undistributed in all periods presented.

The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations:


	Three Months Ended				Six Months Ended
	June 26, 2021		June 27, 2020		June 26, 2021		June 27, 2020
Basic earnings (loss) per share:
Income (loss) from continuing operations	$	3,410	$	(6,979)	$	1,442	$	(9,592)
Less: Allocation of earnings to participating securities	(144)		—		(50)		—
Income (loss) from continuing operations available to common shareholders - basic	$	3,266	$	(6,979)	$	1,392	$	(9,592)
Basic weighted-average shares outstanding (1)	15,119		15,331		15,102		15,344
Basic earnings (loss) per share - continuing operations	$	0.22	$	(0.46)	$	0.09	$	(0.63)

Diluted earnings (loss) per share:
Income (loss) from continuing operations available to common shareholders - basic	$	3,266	$	(6,979)	$	1,392	$	(9,592)
Add: Undistributed earnings reallocated to unvested shareholders	1		—		1		—
Income (loss ) from continuing operations available to common shareholders - basic	$	3,267	$	(6,979)	$	1,393	$	(9,592)
Basic weighted-average shares outstanding (1)	15,119		15,331		15,102		15,344
Effect of dilutive securities:
Stock options (2)	—		—		—		—
Directors' stock performance units (2)	130		—		130		—
Diluted weighted-average shares outstanding (1)(2)	15,249		15,331		15,232		15,344
Diluted earnings (loss) per share - continuing operations	$	0.21	$	(0.46)	$	0.09	$	(0.63)

(1)Includes Common and Class B Common shares, excluding unvested participating securities of 681 thousand as of June 26, 2021 and 480 thousand as of June 27, 2020.

(2)Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded for the three and six months ended June 26, 2021 were 151 thousand and for the three and six months ended June 27, 2020 were 296 thousand.