Earnings Per Share

3 Months Ended

Apr. 01, 2022

Earnings Per Share (EPS)

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


	First Quarter Ended
	April 1,		April 2,
(Thousands, except per share amounts)	2022		2021
Numerator for basic and diluted EPS:
Net income (loss)	$	14,019	$	16,767
Denominator:
Denominator for basic EPS:
Weighted-average shares outstanding	20,464		20,374
Effect of dilutive securities:
Stock appreciation rights	97		72
Restricted stock units	106		108
Performance-based restricted stock units	57		74
Diluted potential common shares	260		254
Denominator for diluted EPS:
Adjusted weighted-average shares outstanding	20,724		20,628
Basic EPS	$	0.69	$	0.82
Diluted EPS	$	0.68	$	0.81

Adjusted weighted-average shares outstanding - diluted exclude securities totaling 117,390 and 63,627 for the quarters ended April 1, 2022 and April 2, 2021, respectively. These securities are primarily related to restricted stock units and stock appreciation rights with fair market values and exercise prices greater 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.