Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Income (Loss) Per Share

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Note 9 - Income (Loss) Per Share
6 Months Ended
Sep. 25, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 9.         Income (Loss) Per Share

 

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted earnings per share (“EPS”) reflects the net incremental shares that would be issued if unvested restricted shares became vested and dilutive outstanding stock options and warrants were exercised, using the treasury stock method. In addition, certain options are considered anti-dilutive because assumed proceeds from exercise price, related tax benefits and average future compensation was greater than the weighted average number of options outstanding multiplied by the average market price during the period.

 

Shares excluded from the diluted EPS calculation for the six month periods ended September 25, 2021 and September 26, 2020 are as follows (in thousands):

 

Anti-dilutive Securities

 

September 25, 2021

   

September 26, 2020

 

Common shares issuable upon exercise of stock options

          251  

Restricted stock awards

    18       10  

Common shares issuable upon conversion of convertible preferred stock

    157       180  

Common shares issuable upon exercise of warrants

    462       91  

 

There were no dilutive securities in the six months ended September 25, 2021 and September 26, 2020 because the stock options and warrants are anti-dilutive.