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Earnings Per Share
9 Months Ended
Dec. 27, 2020
Earnings Per Share  
Earnings Per Share

Note 7. 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 EPS is computed similarly to basic EPS, 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 quarter ended and nine months ended December 27, 2020 because the Company operated at a loss. The number of diluted weighted-average common shares would have been 8,782,254 for the fiscal quarter ended December 27, 2020, and 8,746,532 for nine months ended December 27, 2020, respectively, if the Company was in a positive earning position. At December 27, 2020, stock options with respect to 942,458 shares of common stock were outstanding, of which 779,958 were anti-dilutive. There were no anti-dilutive PSUs or RSUs outstanding as of December 27, 2020.