(7)	Earnings Per Share

The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding, reduced by shares repurchased and held in treasury, during the period. Diluted earnings per share represents basic earnings per share adjusted to include the dilutive effect of outstanding share option awards, nonvested share awards and nonvested share unit awards.

The following table sets forth the computation of basic and diluted earnings per common share:

	13 Weeks Ended					26 Weeks Ended
	July 1, 2018			July 2, 2017		July 1, 2018			July 2, 2017
	(In thousands, except per share data)
Net (loss) income	$	(248	)	$	2,778	$	(1,557	)	$	8,104
Weighted-average shares of common stock outstanding:
Basic		20,985			21,746		20,964			21,715
Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards		—			125		—			208
Diluted		20,985			21,871		20,964			21,923
Basic earnings per share	$	(0.01	)	$	0.13	$	(0.07	)	$	0.37
Diluted earnings per share	$	(0.01	)	$	0.13	$	(0.07	)	$	0.37
Antidilutive share option awards excluded from diluted calculation		110			71		261			84
Antidilutive nonvested share and nonvested share unit awards excluded from diluted calculation		301			3		280			—

The computation of diluted earnings per share for the 13 and 26 weeks ended July 1, 2018 excludes all potential share option awards since the Company reported a net loss, and the effect of their inclusion would have been antidilutive (i.e., including such share option awards would result in higher earnings per share). The computation of diluted earnings per share for the 13 and 26 weeks ended July 2, 2017 excludes share option awards that were outstanding and antidilutive, since the exercise prices of these share option awards exceeded the average market price of the Company’s common shares.

Additionally, the computation of diluted earnings per share for the 13 and 26 weeks ended July 1, 2018 excludes all potential nonvested share awards and nonvested share unit awards since the Company reported a net loss, and the effect of their inclusion would have been antidilutive. The computation of diluted earnings per share for the 13 and 26 weeks ended July 2, 2017 excludes nonvested share awards and nonvested share unit awards that were outstanding and antidilutive, since the grant date fair values of these nonvested share awards and nonvested share unit awards exceeded the average market price of the Company’s common shares.