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EARNINGS PER SHARE (EPS)
 9 Months Ended
Sep. 30, 2022
EARNINGS PER SHARE (EPS)  
EARNINGS PER SHARE (EPS)

11. EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding and dilutive potential common shares for the period. Potential common shares include the weighted-average dilutive effects of outstanding stock options and restricted stock awards using the treasury stock method.

The following table sets forth the number of weighted-average common shares outstanding used to compute basic and diluted EPS:

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Three months ended

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Nine months ended

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September 30,

​

October 1,

​

September 30,

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October 1,

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2022

    

2021

    

2022

    

2021

​

​

(in thousands, except per share amounts)

Net income (loss)

​

$

76

​

$

840

​

$

(8,023)

​

$

(7,527)

Weighted-average common shares outstanding

​

 

13,110

​

 

12,606

​

 

12,971

​

 

12,391

Effect of dilutive stock options and restricted stock awards

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250

​

 

535

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—

​

 

—

Weighted-average common shares outstanding-diluted

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13,360

​

 

13,141

​

 

12,971

​

 

12,391

Earnings (Loss) per share:

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Basic

​

$

0.01

​

$

0.07

​

$

(0.62)

​

$

(0.61)

Diluted

​

$

0.01

​

$

0.06

​

$

(0.62)

​

$

(0.61)

​

For the three months ended September 30, 2022 and October 1, 2021, the Company excluded 401,000 and 26,000 common shares subject to outstanding equity awards, respectively, from the calculation of diluted shares because their impact would have been anti-dilutive. For the nine months ended September 30, 2022 and October 1, 2021, the Company reported a net loss, and accordingly, all outstanding equity awards have been excluded from such periods because including them would have been anti-dilutive.

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