COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE

9 Months Ended

Dec. 26, 2020

COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE

Basic earnings (loss) per share is calculated by dividing net income (loss) associated with common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share assumes the issuance of additional shares of common stock by the Company upon exercise of all outstanding stock options and vesting of restricted stock, if the effect is dilutive, in accordance with the treasury stock method or two-class method (whichever is more dilutive).

The following table sets forth the computation of basic and diluted earnings (loss) per common share for the three and nine months ended December 26, 2020, and December 28, 2019:


	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	December 26, 2020		December 28, 2019		December 26, 2020		December 28, 2019
Basic earnings (loss) per common share:
Numerator:
Net income (loss)	$	20,113	$	(78,483)	$	(68,307)	$	(149,264)

Denominator:
Weighted average common shares, basic	41,252		39,784		40,894		39,535
Dilutive effect of employee equity incentive plans	932		—		—		—
Weighted average common shares-diluted	42,184		39,784		40,894		39,535

Basic earnings (loss) per common share	$	0.49	$	(1.97)	$	(1.67)	$	(3.78)
Diluted earnings (loss) per common share	$	0.48	$	(1.97)	$	(1.67)	$	(3.78)

Potentially dilutive securities excluded from diluted earnings (loss) per common share because their effect is anti-dilutive	988		1,470		1,248		834