Earnings Per Share

6 Months Ended

Jun. 27, 2020

Basic and diluted weighted-average shares outstanding are as follows:


	Six Months Ended			Three Months Ended
(In thousands)	June 27, 2020	June 29, 2019	June 27, 2020	June 29, 2019
Weighted Average Shares - Basic	30,784	32,640	30,756	32,665
Net Effect of Dilutive Stock Options	—	553	—	510
Weighted Average Shares - Diluted	30,784	33,193	30,756	33,175

Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares covered by out-of-the-money stock options was approximately 872,000 shares as of June 27, 2020 and 18,000 shares as of June 29, 2019. Further, due to our net loss in the six month period ended June 27, 2020, the assumed exercise of stock compensation had an antidilutive effect and therefore was excluded from the computation of diluted loss per share.