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Earnings per Share (EPS) and Common Stock | 6 Months Ended
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Mar. 28, 2020
Earnings Per Share and Common Stock |
Earnings per Share (EPS) and Common Stock | Earnings per Share (EPS) and Common Stock EPS Basic EPS is calculated by dividing net income by the weighted-average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted-average number of shares outstanding plus the dilutive effect, if any, of outstanding RSUs using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of unrecognized compensation expense as additional proceeds.
| Three months ended |  | Six months ended
Calculation of Basic and Diluted EPS (in thousands, except per share data) | March 28, 2020 |  | March 30, 2019 |  | March 28, 2020 |  | March 30, 2019
Net income (loss) | $ | 7,156 |  |  | $ | (43,513 | ) |  | $ | 42,611 |  |  | $ | (22,528 | )
Weighted-average shares outstanding—Basic | 115,606 |  |  | 118,461 |  |  | 115,401 |  |  | 118,392 |
Dilutive effect of restricted stock units | 411 |  |  | — |  |  | 455 |  |  | — |
Weighted-average shares outstanding—Diluted | 116,017 |  |  | 118,461 |  |  | 115,856 |  |  | 118,392 |
Earnings (loss) per share—Basic | $ | 0.06 |  |  | $ | (0.37 | ) |  | $ | 0.37 |  |  | $ | (0.19 | )
Earnings (loss) per share—Diluted | $ | 0.06 |  |  | $ | (0.37 | ) |  | $ | 0.37 |  |  | $ | (0.19 | )
There were 331,464 and 90,555 anti-dilutive shares for the three and the six months ended March 28, 2020. For the three and six months ended March 30, 2019 the diluted net loss per share is the same as the basic net loss per share as the effects of all our potential common stock equivalents are antidilutive because we reported a loss for the periods. Common Stock Repurchases Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $1,500 million of our common stock in the period October 1, 2017 through September 30, 2020. We did not repurchase any shares in the second quarter and first six months of 2020. We repurchased $65.0 million of our common stock in the second quarter and first six months of 2019. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.

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