Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v3.20.2
Earnings Per Common Share
6 Months Ended
Jun. 28, 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

 

 

Six months ended

 

(Number of common shares)

 

June 28,

2020

 

 

June 30,

2019

 

 

June 28,

2020

 

 

June 30,

2019

 

Basic weighted average shares outstanding

 

 

28,213,729

 

 

 

23,557,944

 

 

 

28,204,514

 

 

 

23,403,431

 

Dilutive stock awards (a,b)

 

 

1,279,743

 

 

 

 

 

 

1,279,743

 

 

 

 

Diluted weighted average shares outstanding

 

 

29,493,472

 

 

 

23,557,944

 

 

 

29,484,257

 

 

 

23,403,431

 

 

 

(a)

For the three and six months ended June 28, 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 1,279,743 for the three and six months ended June 28, 2020, respectively, related to the outstanding unvested restricted stock units and incremental in-the-money stock options.

 

(b)

For the three and six months ended June 30, 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 1,251,626 for the three and six months ended June 30, 2019, related to outstanding unvested restricted stock units and incremental in-the-money stock options.