Earnings Per Share

9 Months Ended

Sep. 26, 2020

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


	Nine Months Ended		Three Months Ended
(In thousands)	September 26, 2020	September 28, 2019	September 26, 2020	September 28, 2019
Weighted Average Shares - Basic	30,780	32,427	30,770	31,964
Net Effect of Dilutive Stock Options	—	575	—	619
Weighted Average Shares - Diluted	30,780	33,002	30,770	32,583

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 831,000 shares as of September 26, 2020 and 279,000 shares as of September 28, 2019. Further, due to our net loss in the three and nine month periods ended September 26, 2020, the assumed exercise of stock compensation had an antidilutive effect and therefore was excluded from the computation of diluted loss per share.