Note 13 - Income (Loss) Per Share

12 Months Ended

Dec. 30, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

1

3

–

INCOME (LOSS) PER SHARE

The Company computes basic earnings (loss) per share (“EPS”) by dividing net income (loss), by the weighted average common shares outstanding, including participating securities outstanding, during the period as depicted below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings. Income attributable to non-controlling interest is included in the computation of basic and diluted earnings per share, where applicable.

The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of common shares outstanding in our basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were

not

distributed. The following tables show distributed and undistributed earnings:

	Fiscal Year
	2018		2017		2016
Earnings per share:
Basic earnings per share
Distributed earnings	$	0.26	$	0.25	$	0.22
Undistributed earnings		0.58		0.61		0.61
	$	0.84	$	0.86	$	0.83
Diluted earnings per share
Distributed earnings	$	0.26	$	0.25	$	0.22
Undistributed earnings		0.58		0.61		0.61
	$	0.84	$	0.86	$	0.83

The following table presents net income that was attributable to participating securities:

	Fiscal Year
	2018		2017		2016
	(in millions)
Net income attributable to participating securities	$	0.5	$	0.4	$	0.4

The weighted average shares for basic and diluted EPS were as follows:

	Fiscal Year
	2018		2017		2016
	(in thousands)
Weighted Average Shares Outstanding		58,995		61,528		64,593
Participating Securities		549		468		505
Shares for Basic Earnings Per Share		59,544		61,996		65,098
Dilutive Effect of Stock Options		22		44		38
Shares for Diluted Earnings Per Share		59,566		62,040		65,136

For all periods presented, there were

no

stock options excluded from the determination of diluted EPS.