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Note 10 - Earnings Per Common Share | 9 Months Ended
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Jun. 28, 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 |  |  | 39 Weeks Ended |
|  | June 28, |  |  | June 30, |  |  | June 28, |  |  | June 30, |
(Thousands of Dollars and Shares, Except Per Share Data) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
(Loss) Income attributable to Lee Enterprises, Incorporated: |  | (1,275 | ) |  | 5,766 |  |  | (1,320 | ) |  | 13,449 |
Weighted average common shares |  | 58,201 |  |  | 57,731 |  |  | 58,233 |  |  | 57,578 |
Less weighted average restricted Common Stock |  | (1,558 | ) |  | (2,088 | ) |  | (1,529 | ) |  | (2,094 | )
Basic average common shares |  | 56,643 |  |  | 55,643 |  |  | 56,704 |  |  | 55,484 |
Dilutive stock options and restricted Common Stock |  | — |  |  | 1,227 |  |  | — |  |  | 1,038 |
Diluted average common shares |  | 56,643 |  |  | 56,870 |  |  | 56,704 |  |  | 56,522 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | (0.02 | ) |  | 0.10 |  |  | (0.02 | ) |  | 0.24 |
Diluted |  | (0.02 | ) |  | 0.10 |  |  | (0.02 | ) |  | 0.24 |
For the 13 and 39 weeks ended June 28, 2020, 8,134,965 and 7,372,002 shares, respectively, were not considered in the computation of diluted earnings per common share because the Company recorded net losses. For the 13 and 39 weeks ended June 30, 2019, 6,000,000 shares 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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