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Earnings (Loss) Per Share | 6 Months Ended
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Jul. 03, 2021
Earnings Per Share [Abstract] |
Loss Per Share [Text Block] | 11. Earnings (Loss) Per Share Basic and diluted earnings (loss) per share were calculated as follows (shares in thousands):
|  | Quarter ended |  |  | Two quarters ended |
|  | July 3, 2021 |  |  | June 27, 2020 |  |  | July 3, 2021 |  |  | June 27, 2020 |
Basic Earnings (Loss) Per Share |  |  |  |  |  |  |  |  |  |  |  |
Numerator for basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations | $ | (918 | ) | $ | (5,133 | ) | $ | 754 |  | $ | (9,097 | )
Less: dividends and accretion on Series A Preferred Stock |  | - |  |  | (2,066 | ) |  | (1,212 | ) |  | (4,091 | )
Less: dividends and accretion on Series B-1 Preferred Stock |  | (744 | ) |  | (538 | ) |  | (1,485 | ) |  | (538 | )
Loss from continuing operations attributable to common shareholders |  | (1,662 | ) |  | (7,737 | ) |  | (1,943 | ) |  | (13,726 | )
Earnings from discontinued operations |  | - |  |  | 6,140 |  |  | - |  |  | 13,465 |
Loss attributable to common shareholders | $ | (1,662 | ) | $ | (1,597 | ) | $ | (1,943 | ) | $ | (261 | )
Denominator for basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average number of shares outstanding |  | 105,676 |  |  | 89,089 |  |  | 100,898 |  |  | 88,625 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
From continuing operations | $ | (0.02 | ) | $ | (0.09 | ) | $ | (0.02 | ) | $ | (0.15 | )
From discontinued operations |  | - |  |  | 0.07 |  |  | - |  |  | 0.15 |
Basic loss per share | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.00 | )
Diluted Earnings (Loss) Per Share |  |  |  |  |  |  |  |  |  |  |  |
Numerator for diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations | $ | (918 | ) | $ | (5,133 | ) | $ | 754 |  | $ | (9,097 | )
Less: dividends and accretion on Series A Preferred Stock |  | - |  |  | (2,066 | ) |  | (1,212 | ) |  | (4,091 | )
Less: dividends and accretion on Series B-1 Preferred Stock |  | (744 | ) |  | (538 | ) |  | (1,485 | ) |  | (538 | )
Loss from continuing operations attributable to common shareholders |  | (1,662 | ) |  | (7,737 | ) |  | (1,943 | ) |  | (13,726 | )
Earnings from discontinued operations |  | - |  |  | 6,140 |  |  | - |  |  | 13,465 |
Loss attributable to common shareholders | $ | (1,662 | ) | $ | (1,597 | ) | $ | (1,943 | ) | $ | (261 | )
Denominator for diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average number of shares outstanding |  | 105,676 |  |  | 89,089 |  |  | 100,898 |  |  | 88,625 |
Dilutive effect of the following: |  |  |  |  |  |  |  |  |  |  |  |
Stock options, restricted stock units and performance share units(1) |  | - |  |  | - |  |  | - |  |  | - |
Series B-1 Preferred Stock(2) |  | - |  |  | - |  |  | - |  |  | - |
Series A Preferred Stock(3) |  | - |  |  | - |  |  | - |  |  | - |
Diluted weighted-average number of shares outstanding |  | 105,676 |  |  | 89,089 |  |  | 100,898 |  |  | 88,625 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
From continuing operations | $ | (0.02 | ) | $ | (0.09 | ) | $ | (0.02 | ) | $ | (0.15 | )
From discontinued operations |  | - |  |  | 0.07 |  |  | - |  |  | 0.15 |
Diluted loss per share | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.00 | )
(1) For the quarter and two quarters ended July 3, 2021, 2,764,865 (June 27, 2020 - 753,645) and 4,317,118 (June 27, 2020 - 876,593) potential common shares, respectively, were excluded from the calculation of diluted loss per share due to their effect of reducing the loss per share from continuing operations. Dilutive potential common shares consist of stock options, RSUs, and certain contingently issuable PSUs. In addition, for the quarter and two quarters ended July 3, 2021, stock options and RSUs to purchase or receive 263,134 (June 27, 2020 - 2,629,179) and 260,634 (June 27, 2020 - 3,079,418) potential common shares, respectively, were anti-dilutive because the assumed proceeds exceeded the average market price of the Common Shares for the respective periods. (2) For the quarter and two quarters ended July 3, 2021 and June 27, 2020, it was more dilutive to assume the Series B-1 Preferred Stock was not converted into Common Shares and, therefore, the numerator of the diluted earnings per share calculation was not adjusted to add back the dividends and accretion on the Series B-1 Preferred Stock and the denominator was not adjusted to include 12,178,667 and 12,000,000 Common Shares issuable on an if-converted basis as at July 3, 2021 and June 27, 2020, respectively. (3) As described in note 8, on February 22, 2021, all shares of Series A Preferred Stock were exchanged for 12,633,427 Common Shares, representing 12.3% of the Company's issued and outstanding Common Shares on a post-exchange basis as at February 22, 2021. For the quarter and two quarters ended June 27, 2020, it was more dilutive to assume the Series A Preferred Stock was not converted into Common Shares and, therefore, the numerator of the diluted earnings per share calculation was not adjusted to add back the dividends and accretion on the Series A Preferred Stock and the denominator was not adjusted to include 12,385,714 Common Shares issuable on an if-converted basis as at June 27, 2020.

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