LIFECORE BIOMEDICAL INC DE
For the period ended Aug 25, 2024. Filed Oct 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Aug 25, 2024 · Filed Oct 4, 2024
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Earnings Per Share
- Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
| Three Months Ended | ||
|---|---|---|
| August 25, 2024 | August 27, 2023 | |
| Numerator: | ||
| Net loss from continuing operations | $(16,230) | $(12,610) |
| Income from discontinued operations, net of tax | — | 1,856 |
| Net loss | $(16,230) | $(10,754) |
| Denominator: | ||
| Weighted average shares for basic and diluted net income (loss) per share | 30,855,742 | 30,403,392 |
| Basic and diluted net income (loss) per share: | ||
| Loss from continuing operations | $(0.53) | $(0.41) |
| Income from discontinued operations | — | 0.06 |
| Total basic and diluted net loss per share | $(0.53) | $(0.35) |
Due to the Company’s net loss for the three months ended August 25, 2024 and August 27, 2023, the net loss per share includes only the weighted average common shares outstanding and thus excludes the following, as such impact would be antidilutive:
| Three Months Ended | ||
|---|---|---|
| August 25, 2024 | August 27, 2023 | |
| Convertible Preferred Stock | 5,956,239 | 5,684,230 |
| Stock Options | 21,111 | 611 |
| Restricted Stock Units | 123,406 | 271,695 |
| Performance Share Units(1) | — | — |
| Total | 6,100,756 | 5,956,536 |
(1) PSUs are not considered dilutive until performance targets are met.
See Note 13 – Convertible Preferred Stock and Common Stock for more information on outstanding Convertible Preferred Stock and Note 12 – Stock-based Compensation for more information on outstanding stock options, RSUs and PSUs.
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