EARNINGS PER SHARE (Tables)

12 Months Ended

Jul. 02, 2022

Reconciliation of Denominator and Number of Antidilutive Common Share Awards not Included in Diluted Earnings Per Share Calculation

Basic earnings per share (EPS) is calculated by dividing net income (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Diluted EPS is computed by including both the weighted-average number of shares outstanding and any dilutive common share equivalents in the denominator. The following table presents a reconciliation of the denominator and the number of antidilutive common share awards that were not included in the diluted earnings per share calculation. These antidilutive securities occur when equity awards outstanding have an option price greater than the average market price for the period:


	Fiscal Year Ended (in thousands, except per share information)
	July 2, 2022		July 3, 2021		June 27, 2020
Net income	$	3,377	$	4,341	$	4,758
Weighted average shares outstanding– basic	10,762		10,760		10,760
Effect of dilutive common stock awards	301		286		56
Weighted average shares outstanding – diluted	11,063		11,046		10,816
Net income per share – basic	$	0.31	$	0.40	$	0.44
Net income per share – diluted	$	0.31	$	0.39	$	0.44
Antidilutive SARs not included in diluted earnings per share	619		314		720