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Note 3 - Net Income (Loss) Per Common Share
 12 Months Ended
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.