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Note 3 - Net Income (Loss) Per Common Share | 12 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Earnings Per Share [Text Block] | Note 3 – Net Income (Loss) Per Common Share The following table sets forth the computation of basic and diluted net income (loss):
|  | Years Ended |
|  | June 30, 2024 |  |  | July 2, 2023 |  |  | July 3, 2022 |
|  | (in thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (6,105 | ) |  | $ | (44,702 | ) |  | $ | 29,610 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 64,586 |  |  |  | 64,688 |  |  |  | 64,977 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Employee stock options |  |  | - |  |  |  | - |  |  |  | 45 |
Employee restricted stock awards |  |  | - |  |  |  | - |  |  |  | 595 |
Total effect of dilutive securities |  |  | - |  |  |  | - |  |  |  | 640 |
Adjusted weighted-average shares and assumed conversions |  |  | 64,586 |  |  |  | 64,688 |  |  |  | 65,617 |
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.09 | ) |  | $ | (0.69 | ) |  | $ | 0.46 |
Diluted |  | $ | (0.09 | ) |  | $ | (0.69 | ) |  | $ | 0.45 |
Due to our net loss for the years ended June 30, 2024, and July 2, 2023, all common stock equivalents including stock options and unvested restricted stock awards have been excluded from the computation of diluted net loss per share because the effect would have been anti-dilutive to the computation. There were 212,178 and 7,762 restricted stock awards and stock options, respectively, excluded from the Company's calculation of diluted net income (loss) per common share for the year ended July 3, 2022, as such awards were anti-dilutive.

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