Note 10 - Earnings Per Common Share

6 Months Ended

Mar. 29, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

10 EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share:

	13 Weeks Ended				26 Weeks Ended
	March 29,		March 31,		March 29,		March 31,
(Thousands of Dollars and Shares, Except Per Share Data)	2020		2019		2020		2019
Income attributable to Lee Enterprises, Incorporated:	(5,367	)	(2,678	)	(46	)	7,683
Weighted average common shares	58,136		57,703		57,931		57,501
Less weighted average restricted Common Stock	(1,572	)	(2,095	)	(1,515	)	(2,097	)
Basic average common shares	56,564		55,608		56,416		55,404
Dilutive stock options and restricted Common Stock	382		—		585		1,287
Diluted average common shares	56,946		55,608		57,001		56,691
Earnings per common share:
Basic	(0.09	)	(0.05	)	(0.00	)	0.14
Diluted	(0.09	)	(0.05	)	(0.00	)	0.14

For the

13

and

26

weeks ended

March 29, 2020

, 

6,954,300

and 

6,393,966

shares, respectively, were

not

considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock. For the

13

and

26

weeks ended

March 31, 2019

, 

6,000,000

and 

6,000,000

shares, respectively, were

not

considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock.