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Net Earnings (Loss) per Share (Tables)
12 Months Ended
Apr. 28, 2018
Reconciliation of Basic and Diluted Income (loss) Per Share

The following is a reconciliation of the Company’s basic and diluted income (loss) per share calculation:

 

     Fiscal
2018
    Fiscal
2017
    Fiscal
2016
 

Numerator for basic income (loss) per share:

      

Net income (loss) from continuing operations

   $ (125,480     22,023       14,700  

Inducement fee paid upon conversion of Series J preferred stock

     —         —         (3,657

Preferred stock dividends paid in shares

     —         —         (1,783

Accretion of dividends on preferred stock

     —         —         (4,204

Less allocation of dividends to participating securities

     (80     (576     (1,219
  

 

 

   

 

 

   

 

 

 

Net income (loss) from continuing operations available to common shareholders

     (125,560     21,447       3,837  

Net loss from discontinued operations available to common shareholders

     —         —         (39,146
  

 

 

   

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ (125,560     21,447       (35,309
  

 

 

   

 

 

   

 

 

 

Numerator for diluted income (loss) per share:

      

Net income (loss) from continuing operations available to common shareholders

   $ (125,560     21,447       3,837  

Accretion of dividends on preferred stock (a)

     —         —         —    

Allocation of undistributed earnings to participating securities

     —         —         —    

Less diluted allocation of undistributed earnings to participating securities

     —         —         —    
  

 

 

   

 

 

   

 

 

 

Net income (loss) from continuing operations available to common shareholders

     (125,560     21,447       3,837  

Net loss from discontinued operations available to common shareholders

     —         —         (39,146
  

 

 

   

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ (125,560     21,447       (35,309
  

 

 

   

 

 

   

 

 

 

Denominator for basic income (loss) per share:

      

Basic weighted average common shares

     72,588       72,188       72,410  

Denominator for diluted income (loss) per share:

      

Basic weighted average shares

     72,588       72,188       72,410  

Average dilutive options

     —         63       118  

Average dilutive non-participating securities

     —         77       14  
  

 

 

   

 

 

   

 

 

 

Diluted weighted average common shares

     72,588       72,328       72,542  
  

 

 

   

 

 

   

 

 

 

Basic income (loss) per common share:

      

Income (loss) from continuing operations

   $ (1.73     0.30       0.05  

Loss from discontinued operations

     —         —         (0.54
  

 

 

   

 

 

   

 

 

 

Basic income (loss) per common share

   $ (1.73     0.30       (0.49
  

 

 

   

 

 

   

 

 

 

Diluted income (loss) per common share:

      

Income (loss) from continuing operations

   $ (1.73     0.30       0.05  

Loss from discontinued operations

     —         —         (0.54
  

 

 

   

 

 

   

 

 

 

Diluted income (loss) per common share

   $ (1.73     0.30       (0.49
  

 

 

   

 

 

   

 

 

 

 

(a) 

Although the Company was in a net income position during fiscal 2016, the dilutive effect of the Company’s convertible preferred shares was excluded from the calculation of income per share using the two-class method because the effect would be antidilutive.