Net (Loss) Income Per Common Share

6 Months Ended

Aug. 31, 2022

Net Income Per Common Share [Abstract]

(3) Net (Loss) Income Per Common Share

Basic net (loss) income per common share attributable to VOXX International Corporation is calculated by dividing net income attributable to Voxx, adjusted to reflect changes in the redemption value of redeemable non-controlling interest, by the weighted-average common shares outstanding during the period. The diluted net (loss) income per common share computation reflects the potential dilution that would occur if common stock equivalent securities or other contracts to issue common stock were exercised or converted into common stock. There was no redemption value adjustment of the redeemable non-controlling interest for the three and six months ended August 31, 2022.

A reconciliation between the denominator of basic and diluted net (loss) income per common share is as follows:


	Three months ended August 31,				Six months ended August 31,
	2022		2021		2022		2021
Weighted-average common shares outstanding (basic)		24,423,577		24,281,220		24,418,020		24,273,731
Effect of dilutive securities:
Restricted stock units, stock grants, and market stock units		—		574,087		—		616,910
Weighted-average common shares and potential common shares outstanding (diluted)		24,423,577		24,855,307		24,418,020		24,890,641

Restricted stock units, stock grants, and market stock units of 377,019 and 0 for the three months ended August 31, 2022 and 2021, respectively, and 372,922 and 0 for the six months ended August 31, 2022 and 2021, respectively, were not included in the net (loss) income per diluted share calculation because the grant price of the restricted stock units, stock grants, and market stock units was greater than the average market price of the Company’s common stock during these periods, or the inclusion of these components would have been anti-dilutive.