COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE

6 Months Ended

Oct. 02, 2021

COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share assumes the issuance of additional shares of common stock by the Company upon exercise of all outstanding stock options and vesting of restricted stock, if the effect is dilutive, in accordance with the treasury stock method. The potentially dilutive effect of outstanding stock options and restricted stock has been excluded from the computation of diluted loss per share in periods where the Company had a net loss, as their effect is anti-dilutive.

The following table sets forth the computation of basic and diluted earnings (loss) per common share for the three and six months ended October 2, 2021 and September 26, 2020:


	Three Months Ended				Six Months Ended
(in thousands, except per share data)	October 2, 2021		September 26, 2020		October 2, 2021		September 26, 2020
Numerator:
Net income (loss)	$	96,785	$	(13,405)	$	59,974	$	(88,420)

Denominator:
Weighted-average basic shares outstanding	42,543		40,970		42,302		40,715
Weighted-average diluted shares outstanding	43,705		40,970		43,863		40,715

Basic earnings (loss) per common share	$	2.27	$	(0.33)	$	1.42	$	(2.17)
Diluted earnings (loss) per common share	$	2.21	$	(0.33)	$	1.37	$	(2.17)

Potentially dilutive securities excluded from diluted earnings (loss) per common share because their effect is anti-dilutive	752		1,153		330		1,337