Net Income (Loss) Per Share

3 Months Ended

Jun. 29, 2019

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income (loss) by the basic weighted average shares outstanding during the period.  Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares used in

the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.  These potentially dilutive items consist primarily of outstanding stock options and restricted stock units.

The following table details the calculation of basic and diluted earnings per share for the three months ended June 29, 2019 and June 30, 2018 (in thousands, except per share amounts):

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	Three Months Ended
	June 29,		June 30,
	2019		2018
Numerator:
Net income (loss)	$	4,618	$	(4,272	)
Denominator:
Weighted average shares outstanding	58,540		61,462
Effect of dilutive securities	1,718		—
Weighted average diluted shares	60,258		61,462
Basic earnings (loss) per share	$	0.08	$	(0.07	)
Diluted earnings (loss) per share	$	0.08	$	(0.07	)

The weighted outstanding shares excluded from our diluted calculation for the three months ended June 29, 2019, were 734 thousand, as the shares were anti-dilutive. All potential shares of common stock are anti-dilutive in periods of net loss, and therefore excluded for the three months ended June 30, 2018.