Earnings per Share

6 Months Ended

Jul. 04, 2015

Note 15 – Earnings per Share

Earnings per share were computed as follows (in thousands, except per share amounts):


	Three Months Ended					Six Months Ended
	July 4, 2015			June 28, 2014		July 4, 2015			June 28, 2014
Weighted average shares:
Basic weighted average shares outstanding		50,917			50,606		50,798			50,509
Effect of dilutive securities outstanding		0			672		0			620

Diluted weighted average and equivalent shares outstanding		50,917			51,278		50,798			51,129

Basic per share amounts:
Net (loss) income	$	(76,258	)	$	27,557	$	(101,555	)	$	69,163
Basic weighted average shares outstanding		50,917			50,606		50,798			50,509
Per share amount	$	(1.50	)	$	0.54	$	(2.00	)	$	1.37
Diluted per share amounts:
Net (loss) income	$	(76,258	)	$	27,557	$	(101,555	)	$	69,163
Diluted weighted average and equivalent shares outstanding		50,917			51,278		50,798			51,129
Per share amount	$	(1.50	)	$	0.54	$	(2.00	)	$	1.35

Potentially dilutive securities consist primarily of stock appreciation rights (SARs) with an exercise price greater than the average market closing price of the Class A common stock. Due to a net loss for the second quarter and first half of 2015, restricted stock and warrants were anti-dilutive and therefore excluded from the earnings per share calculation. These excluded shares are as follows:

Three Months Ended

Six Months Ended

July 4, 2015

June 28, 2014

July 4, 2015

June 28, 2014

Potentially dilutive shares

1,152,000

166,000

1,018,000

166,000