EARNINGS (LOSS) PER SHARE

3 Months Ended

Apr. 03, 2021

The calculations of basic and diluted earnings (loss) per share ("EPS") is based on net income (loss) divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively.

The following table presents the calculations of basic and diluted EPS:


	Three Months Ended March

(In thousands, except per share amounts)	2021		2020
Net income (loss)	$	64,463	$	(2,712)
Basic weighted average shares outstanding	57,344		56,875
Dilutive effect of stock-based awards	1,558		—
Diluted weighted average shares outstanding	58,902		56,875
Earnings (loss) per share:
Basic earnings (loss) per common share	$	1.12	$	(0.05)
Diluted earnings (loss) per common share	$	1.09	$	(0.05)

For the three months ended March 2021, there were no anti-dilutive shares. For the three months ended March 2020, all of the 1.1 million potentially dilutive shares were excluded from the diluted loss per share calculation because the Company incurred a net loss for the period.

For the three months ended March 2021 and March 2020, a total of 0.2 million and 0.3 million shares, respectively, of PRSUs were excluded from the calculations of potential dilutive earnings per share as the units were not considered to be contingent outstanding shares.