Earnings Per Share

3 Months Ended

Jun. 30, 2019

Earnings Per Share

Earnings Per Share

Note 5. Earnings Per Share

The Company presents the computation of earnings per share (“EPS”) on a basic and diluted basis. Basic EPS is computed by dividing net income by the weighted average number of shares outstanding during the reported period. Diluted earnings per share is computed similarly to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common shares are excluded from the calculation if they are determined to be anti-dilutive. Diluted EPS was equal to basic EPS for the fiscal 2020 first quarter because the Company operated at a loss. The number of diluted weighted-average common shares would have been 8,708,182 if the Company was at a positive earning position. At June 30, 2019, stock options with respect to 726,500 shares of common stock were outstanding, of which 50,000 were anti-dilutive. At July 1, 2018, stock options with respect to 589,000 shares of common stock were outstanding, of which 60,000 were anti-dilutive. There were no anti-dilutive PSUs or RSUs outstanding as of June 30, 2019 or July 1, 2018, respectively.