AVIAT NETWORKS, INC.AVNW

AVIAT NETWORKS, INC. Earnings Per Share Disclosure

10-KFiled Sep 10, 20251 min read
Net Income per Share of Common Stock
Net income per share is computed by dividing net income attributable to the Company by the weighted average number of shares of its outstanding common stock.
The following table presents the computation of basic and diluted net income per share:
Fiscal Year
(In thousands, except per share amounts)202520242023
Numerator:
   Net income$1,341 $10,760 $10,169 
Denominator:
   Weighted average shares outstanding, basic12,681 12,182 11,358 
   Effect of potentially dilutive equivalent shares145 274 497 
   Weighted average shares outstanding, diluted12,826 12,456 11,855 
Net income per share:
   Basic$0.11 $0.88 $0.90 
   Diluted$0.10 $0.86 $0.86 
The following table summarizes the weighted-average equity awards that were excluded from the diluted net income per share calculations since they were anti-dilutive:
 Fiscal Year
(In thousands)202520242023
Stock options314 319 194 
Restricted stock units and performance stock units
135 23 21 
Total shares of common stock excluded449 342 215 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsNew StandardsPay vs Performance