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Earning (Loss) Per Share
12 Months Ended
Jun. 27, 2021
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed on the basis of the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings (loss) per share is computed on the basis of the weighted average number of shares of common stock plus the potential dilutive common shares outstanding during the applicable period using the treasury stock method. Potential dilutive common shares include outstanding stock options and unvested restricted stock awards. A reconciliation of the components of the basic and diluted per share computations follows (in thousands, except per share amounts):

 

 

 

Years Ended

 

 

 

June 27, 2021

 

 

June 28, 2020

 

Net income (loss) attributable to STRATTEC

 

$

22,532

 

 

$

(7,605

)

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

3,788

 

 

 

3,737

 

Incremental shares – stock based compensation

 

 

64

 

 

 

 

Diluted weighted average shares of common stock

   outstanding

 

 

3,852

 

 

 

3,737

 

Basic earnings (loss) per share

 

$

5.95

 

 

$

(2.04

)

Diluted earnings (loss) per share

 

$

5.85

 

 

$

(2.04

)

Potentially dilutive common shares that were excluded from the calculation of diluted earnings (loss) per share because their inclusion would have been antidilutive were as follows:

 

Years Ended

 

Number of Options

Excluded

 

June 27, 2021

 

 

9,010

 

June 28, 2020

 

 

160,254