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Net Income (Loss) Per Share of Common Stock
9 Months Ended
Apr. 03, 2020
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share of Common Stock
Net Income (Loss) Per Share of Common Stock
Net income (loss) per share is computed using the two-class method, by dividing net income attributable to us by the weighted-average number of shares of our outstanding common stock and participating securities outstanding. Our restricted shares contain rights to receive non-forfeitable dividends and therefore are considered to be participating securities and included in the calculations of net income per basic and diluted common share. Undistributed losses are not allocated to unvested restricted shares as the unvested restricted shares are not contractually obligated to share our losses. The impact on earnings per share of the participating securities under the two-class method was immaterial.
The following table presents the computation of basic and diluted net income (loss) per share attributable to our common stockholders:
 
Three Months Ended
 
Nine Months Ended
(In thousands, except per share amounts)
April 3,
2020
 
March 29,
2019
 
April 3,
2020
 
March 29,
2019
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
731

 
$
4,339

 
$
(886
)
 
$
5,899

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted-average shares outstanding, basic
5,395

 
5,381

 
5,390

 
5,382

Effect of potentially dilutive equivalent shares
62

 
196

 

 
252

Weighted-average shares outstanding, diluted
5,457

 
5,577


5,390


5,634

 
 
 
 
 
 
 
 
Net income (loss) per share of common stock outstanding:
 
 
 
 
 
 
 
Basic
$
0.14


$
0.81


$
(0.16
)

$
1.10

Diluted
$
0.13


$
0.78


$
(0.16
)

$
1.05


The following table summarizes the weighted-average equity awards that were excluded from the diluted net income (loss) per share calculations since they were anti-dilutive:
 
Three Months Ended
 
Nine Months Ended
(In thousands)
April 3,
2020
 
March 29,
2019
 
April 3,
2020
 
March 29,
2019
Stock options
327

 
394

 
369

 
375

Restricted stock units and performance stock units
98

 
52

 
143

 
39

Total shares of common stock excluded
425

 
446

 
512

 
414