Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v3.20.2
Earnings Per Common Share
9 Months Ended
Sep. 27, 2020
Earnings Per Share [Abstract]  
Earnings per Common Share

7.

Earnings per common share

The following table details the weighted average number of common shares outstanding for the purposes of computing basic and diluted earnings per common share for the following periods:

 

 

 

Three months ended

 

 

Nine months ended

 

(Number of common shares)

 

September 27,

2020

 

 

September 29,

2019

 

 

September 27,

2020

 

 

September 29,

2019

 

Basic weighted average shares outstanding

 

 

28,214,800

 

 

 

28,057,763

 

 

 

28,207,943

 

 

 

24,954,875

 

Dilutive stock awards (a,b)

 

 

1,421,519

 

 

 

 

 

 

1,421,519

 

 

 

 

Diluted weighted average shares outstanding

 

 

29,636,319

 

 

 

28,057,763

 

 

 

29,629,462

 

 

 

24,954,875

 

 

 

(a)

For the three and nine months ended September 27, 2020, as a result of net income for the periods, dilutive earnings per share were calculated using the treasury stock method.  The dilutive stock awards have been calculated as 1,421,519 for the three and nine months ended September 27, 2020, related to the outstanding unvested restricted stock units and incremental in-the-money stock options.

 

(b)

For the three and nine months ended September 29, 2019, as a result of net loss for the period, dilutive stock awards are not presented as this would be antidilutive. Had there been net income for the periods, the dilutive stock awards would have been calculated as 754,820 for the three and nine months ended September 29, 2019, related to outstanding unvested restricted stock units and incremental in-the-money stock options.