Earnings Per Share

6 Months Ended

Jun. 26, 2020

Earnings Per Share (EPS)

The following table sets forth the computation of basic and diluted EPS:


	Second Quarter Ended						Six Months Ended
	June 26,		June 28,		June 26,		June 28,
(Thousands, except per share amounts)	2020		2019		2020		2019
Numerator for basic and diluted EPS:
Net income	$	6,678	$	15,540	$	3,575	$	32,446
Denominator:
Denominator for basic EPS:
Weighted-average shares outstanding	20,317		20,383		20,350		20,326
Effect of dilutive securities:
Stock appreciation rights	36		76		36		92
Restricted stock units	63		76		80		77
Performance-based restricted stock units	138		131		121		140
Diluted potential common shares	237		283		237		309
Denominator for diluted EPS:
Adjusted weighted-average shares outstanding	20,554		20,666		20,587		20,635
Basic EPS	$	0.33	$	0.76	$	0.18	$	1.60
Diluted EPS	$	0.32	$	0.75	$	0.17	$	1.57

Adjusted weighted-average shares outstanding-diluted excludes securities totaling 191,500 and 84,509 for the quarters ended June 26, 2020 and June 28, 2019, respectively, and 230,893 and 144,154 for the six months ended June 26, 2020 and June 28, 2019, respectively. These securities primarily related to restricted stock units and stock appreciation rights with fair market values and exercise prices less than the average market price of the Company's common shares and were excluded from the dilution calculation as the effect would have been anti-dilutive.