| Schedule of Computation of Basic and Diluted 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:
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Three months ended
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Nine months ended
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(Number of common shares)
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September 27,
2020
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September 29,
2019
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September 27,
2020
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September 29,
2019
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Basic weighted average shares outstanding
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28,214,800
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28,057,763
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28,207,943
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24,954,875
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Dilutive stock awards (a,b)
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1,421,519
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—
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1,421,519
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—
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Diluted weighted average shares outstanding
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29,636,319
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28,057,763
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29,629,462
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24,954,875
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(a)
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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.
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(b)
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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.
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