EARNINGS PER SHARE
Basic earnings per share (EPS) is calculated by dividing net loss (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Diluted EPS is computed by including both the weighted-average number of shares outstanding and any dilutive common share equivalents in the denominator. The following table presents a reconciliation of the denominator and the number of antidilutive common share awards that were not included in the diluted earnings per share calculation. These antidilutive securities occur when equity awards outstanding have an option price greater than the average market price for the period:
 
 Fiscal Year Ended (in thousands, except per share information)
 June 28, 2025June 29, 2024
Net loss$(8,318)$(2,787)
Weighted average shares outstanding—basic10,762 10,762 
Effect of dilutive common stock awards— — 
Weighted average shares outstanding—diluted10,762 10,762 
Net loss per share—basic$(0.77)$(0.26)
Net loss per share—diluted$(0.77)$(0.26)
Antidilutive stock-based awards not included in diluted earnings per share11 515 

Historical Timeline

Fiscal YearFiled
2025Sep 17, 2025Showing above
2024Oct 15, 2024
2023Sep 26, 2023
2022Sep 14, 2022
2021Sep 16, 2021
2020Sep 11, 2020
2019Sep 12, 2019
2018Sep 10, 2018
2017Sep 11, 2017
2016Sep 9, 2016

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.