Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

v3.22.2
Net Loss Per Share
3 Months Ended
Jun. 25, 2022
Earnings Per Share [Abstract]  
Net Loss Per Share

Note 11. Net Loss Per Share

Basic loss per share is calculated by dividing net 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 three month periods ended June 25, 2022 and June 26, 2021 are as follows (In thousands):

 

Anti-dilutive securities

 

June 25, 2022

 

 

June 26, 2021

 

Common shares issuable upon exercise of stock options

 

 

335

 

 

 

378

 

Restricted stock awards

 

 

30

 

 

 

15

 

Common shares issuable upon conversion of convertible preferred stock

 

 

157

 

 

 

157

 

Common shares issuable upon exercise of warrants

 

 

530

 

 

 

530

 

 

(In thousands except per share data)

 

Three Months Ended

 

 

 

June 25, 2022

 

 

June 26, 2021

 

Net loss attributable to common shareholders

 

$

(1,248

)

 

$

(860

)

 

 

 

 

 

 

 

Weighted-average basic and diluted common shares outstanding

 

 

2,777

 

 

 

2,725

 

 

 

 

 

 

 

 

Net loss per common share attributable to common shareholder – basic and diluted

 

$

(0.45

)

 

$

(0.32

)

 

There were no dilutive securities in the three months ended June 25, 2022 and June 26, 2021 because the stock options, restricted stock awards, convertible preferred stocks and warrants were all anti-dilutive.