Pizza Inn Holdings Just Filed Its Annual Report: NOTE L - EARNINGS PE...

NOTE L - EARNINGS PER SHARE:

The Company computes and presents earnings per share (“EPS”) in accordance with the authoritative guidance on Earnings Per Share.  Basic EPS excludes the effect of potentially dilutive securities while diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised, converted or resulted in the issuance of common stock that then shared in the earnings of the Company.

The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts).

  
Fiscal Year Ended
 
  
June 27,
2021
  
June 28,
2020
 
Income/(loss) from continuing operations
 
$
1,520
  
$
(4,233
)
Interest saved on convertible notes at 4%
 
$
64
  
$
65
 
Adjusted net income/(loss)
 
$
1,584
  
$
(4,168
)
         
BASIC:
        
Weighted average common shares
  
17,307
   
15,144
 
         
Net income/(loss) per common share
 
$
0.09
  
$
(0.28
)
         
DILUTED:
        
Weighted average common shares
  
17,307
   
15,144
 
Convertible notes
  
798
   
 
Dilutive stock options
  
   
 
Weighted average common shares outstanding
  
18,105
   
15,144
 
         
Income/(loss) from continuing operations per common share
 
$
0.09
  
$
(0.28
)

We had 166,750 and 206,750 shares of common stock potentially issuable upon exercise of employee stock options for years ended June 27, 2021 and June 28, 2020, respectively. The 166,750 and 206,750 shares of common stock were excluded from the weighted average number of shares outstanding on a diluted basis because they had an intrinsic value of zero and were anti-dilutive, respectively. These options expire at varying times from fiscal 2021 through fiscal 2026.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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