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Note 10 - Earnings Per Common Share | 6 Months Ended
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Mar. 29, 2020
Notes to Financial Statements |
Earnings Per Share [Text Block] |
10 | EARNINGS PER COMMON SHARE
The following table sets forth the computation of basic and diluted earnings per common share:
|  | 13 Weeks Ended |  |  | 26 Weeks Ended |
|  | March 29, |  |  | March 31, |  |  | March 29, |  |  | March 31, |
(Thousands of Dollars and Shares, Except Per Share Data) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Income attributable to Lee Enterprises, Incorporated: |  | (5,367 | ) |  | (2,678 | ) |  | (46 | ) |  | 7,683 |
Weighted average common shares |  | 58,136 |  |  | 57,703 |  |  | 57,931 |  |  | 57,501 |
Less weighted average restricted Common Stock |  | (1,572 | ) |  | (2,095 | ) |  | (1,515 | ) |  | (2,097 | )
Basic average common shares |  | 56,564 |  |  | 55,608 |  |  | 56,416 |  |  | 55,404 |
Dilutive stock options and restricted Common Stock |  | 382 |  |  | — |  |  | 585 |  |  | 1,287 |
Diluted average common shares |  | 56,946 |  |  | 55,608 |  |  | 57,001 |  |  | 56,691 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | (0.09 | ) |  | (0.05 | ) |  | (0.00 | ) |  | 0.14 |
Diluted |  | (0.09 | ) |  | (0.05 | ) |  | (0.00 | ) |  | 0.14 |
For the 13 and 26 weeks ended March 29, 2020 , 6,954,300 and 6,393,966 shares, respectively, were not considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock. For the 13 and 26 weeks ended March 31, 2019 , 6,000,000 and 6,000,000 shares, respectively, were not considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock.

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