Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.4
Earnings Per Share
3 Months Ended
Dec. 26, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following is a reconciliation of the numerators and denominators of the basic and diluted per share computations for income from continuing operations.
Three Months Ended
December 26, 2020
Income Shares Per Share
(in thousands, except per share amounts)
Basic EPS:
     Net income available to common shareholders $ 5,613  53,734  $ 0.10 
Effect of dilutive securities:
     Options to purchase common stock —  414  — 
     Restricted shares —  538  — 
Diluted EPS:
     Net income available to common shareholders $ 5,613  54,686  $ 0.10 

Three Months Ended
December 28, 2019
Income Shares Per Share
(in thousands, except per share amounts)
Basic EPS:
     Net income available to common shareholders $ (4,417) 54,755  $ (0.08)
Effect of dilutive securities (1):
     Options to purchase common stock —  —  — 
     Restricted shares —  —  — 
Diluted EPS:
     Net income available to common shareholders $ (4,417) 54,755  $ (0.08)

(1) The potential effects of stock awards were excluded from the diluted earnings per share calculation for the three months ended December 28, 2019, because their inclusion in a net loss period would be anti-dilutive to the earnings per share calculation.

Options to purchase 3.0 million shares of common stock at prices ranging from $10.63 to $38.97 per share were outstanding at December 26, 2020, and options to purchase 2.6 million shares of common stock at prices ranging from $8.56 to $38.10 per share were outstanding at December 28, 2019.

For the three months ended December 26, 2020 and December 28, 2019, 0.5 million and 1.0 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive.

For the three months ended December 28, 2019, 0.4 million options outstanding and 0.3 million restricted shares were excluded in the diluted earnings per share calculation because their inclusion in a net loss period would be anti-dilutive to the earnings per share calculation.