XML 27 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Note 10 - Earnings Per Common Share
 9 Months Ended
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.