Earnings Per Share

9 Months Ended

May 30, 2020

asic earnings per share is based on the weighted average number of common shares issued and outstanding. In periods in which the Company has net income, diluted earnings per share is based on the weighted average number of common shares issued and outstanding and the effect of all dilutive common stock equivalents outstanding during each period.

In periods in which the Company has a net loss, diluted earnings per share is based on the weighted average number of common shares issued and outstanding. The effect of including common stock equivalents outstanding is considered anti-dilutive.

The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share:



	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(In thousands, except per share data)	May 30, 2020		May 25, 2019		May 30, 2020		May 25, 2019
Basic earnings per share computation:
Numerator:
Net income	$	16,409	$	13,466	$	22,273	$	41,445
Denominator:
Weighted average common shares - basic	95,378,495		81,898,276		93,475,539		80,362,978
Basic earnings per share from net income	$	0.17	$	0.16	$	0.24	$	0.52
Diluted earnings per share computation:
Numerator:
Net income	$	16,409	$	13,466	$	22,273	$	41,445
Denominator:
Weighted average common shares outstanding - basic	95,378,495		81,898,276		93,475,539		80,362,978
Public and Private Warrants	2,285,110		3,110,645		3,392,317		3,582,795
Employee stock options	630,408		844,937		1,028,218		689,849
Non-vested shares	28,303		108,293		37,476		60,081
Weighted average common shares - diluted	98,322,316		85,962,151		97,933,550		84,695,703
Diluted earnings per share from net income	$	0.17	$	0.16	$	0.23	$	0.49

Earnings per share calculations for the thirteen weeks ended May 30, 2020 and May 25, 2019 excluded 0.8 million and 0.3 million shares of stock options issuable upon exercise, respectively, that would have been anti-dilutive. Earnings per share calculations for the thirteen weeks ended May 30, 2020 excluded 0.1 million non-vested shares that would have been anti-dilutive. An immaterial number of non-vested shares were excluded from earnings per share calculation for the thirteen weeks ended May 25, 2019.

Earnings per share calculations for the thirty-nine weeks ended May 30, 2020 and May 25, 2019 excluded 0.6 million and 0.3 million shares of stock options issuable upon exercise, respectively, that would have been anti-dilutive. An immaterial number of non-vested shares were excluded from earnings per share calculations for the thirty-nine weeks ended May 30, 2020 and May 25, 2019.