Earnings Per Share

9 Months Ended

Oct. 02, 2021

Basic and diluted weighted-average shares outstanding are as follows:


	Nine Months Ended		Three Months Ended
(In thousands)	October 2, 2021	September 26, 2020	October 2, 2021	September 26, 2020
Weighted Average Shares - Basic	30,927	30,780	30,954	30,770
Net Effect of Dilutive Stock Options	—	—	—	—
Weighted Average Shares - Diluted	30,927	30,780	30,954	30,770

Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares covered by out-of-the-money stock options was approximately 647,000 shares as of October 2, 2021 and 831,000 shares as of September 26, 2020. Further, due to our net loss in the three and nine month periods ended October 2, 2021 and September 26, 2020, the assumed exercise of stock compensation had an antidilutive effect and therefore was excluded from the computation of diluted loss per share.