Earnings Per Share

12 Months Ended

Mar. 27, 2022

Earnings Per Share

Earnings Per Share

Note 15. 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 are 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. Shares of common stock are excluded from the calculation if they are determined to be anti-dilutive. In fiscal years 2022 and 2021, the Company had a net loss from continuing operations and accordingly recorded EPS by using only basic shares outstanding.

The following table presents the calculation of basic and diluted earnings per common share from continuing operations:

	Amounts in thousands, except per share amounts
Amounts in thousands, except per share amounts	2022		2021		2020
Earnings per share from continuing operations – Basic:
Net loss	$	(3,312)	$	(14,373)	$	(15,601)
Less: Distributed and undistributed earnings allocated to nonvested stock		—		—		—
Earnings available (loss attributable) to common shareholders – Basic	$	(3,312)	$	(14,373)	$	(15,601)
Weighted average common shares outstanding – Basic		8,928		8,697		8,527
Earnings (loss) per common share from continuing operations – Basic	$	(0.37)	$	(1.65)	$	(1.83)
Earnings per share – Diluted:
Net income (loss)	$	(3,312)	$	(14,373)	$	(15,601)
Less: Distributed and undistributed earnings allocated to nonvested stock		—		—		—
Earnings available (loss attributable) to common shareholders – Diluted	$	(3,312)	$	(14,373)	$	(15,601)
Weighted average common shares outstanding – Basic		8,928		8,697		8,527
Effect of dilutive options		—		—		—
Weighted average common shares outstanding – Diluted		8,928		8,697		8,527
Loss per common share from continuing operations – Diluted	$	(0.37)	$	(1.65)	$	(1.83)
Anti-dilutive equity awards not included above		813		755		852

At March 27, 2022, March 28, 2021 and March 29, 2020, stock options with respect to 933,000, 925,000 and 862,000 shares of common stock were outstanding, respectively. The anti-dilutive stock options outstanding at March 27, 2022, March 28, 2021 and March 29, 2020 total 813,000, 755,000 and 852,000, respectively. There were no anti-dilutive Performance Stock Units (“PSUs”) or Restricted Stock Units (“RSUs”) outstanding as of March 27, 2022, March 28, 2021, and March 29, 2020.