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Earnings per Share
 6 Months Ended
Jun. 29, 2013
Earnings per Share [Abstract]  
Earnings per Share
4.Earnings per Share

Basic and diluted earnings per share are calculated as follows:

 
 
Three Months Ended
  
Six Months Ended
 
 
 
June 29,
  
June 30,
  
June 29,
  
June 30,
 
(In thousands, except per share amounts)
 
2013
  
2012
  
2013
  
2012
 
 
 
  
  
  
 
Amounts Attributable to Kadant:
 
  
  
  
 
Income from Continuing Operations
 
$
5,772
  
$
6,546
  
$
11,085
  
$
13,660
 
Loss from Discontinued Operation
  
(12
)
  
(3
)
  
(41
)
  
(64
)
Net Income
 
$
5,760
  
$
6,543
  
$
11,044
  
$
13,596
 
 
                
Basic Weighted Average Shares
  
11,178
   
11,575
   
11,170
   
11,614
 
Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan
  
153
   
104
   
129
   
90
 
Diluted Weighted Average Shares
  
11,331
   
11,679
   
11,299
   
11,704
 
 
                
Basic Earnings per Share:
                
Continuing Operations
 
$
0.52
  
$
0.57
  
$
0.99
  
$
1.18
 
Discontinued Operation
 
$
–
  
$
–
  
$
–
  
$
(0.01
)
Net Income per Basic Share
 
$
0.52
  
$
0.57
  
$
0.99
  
$
1.17
 
 
                
Diluted Earnings per Share:
                
Continuing Operations
 
$
0.51
  
$
0.56
  
$
0.98
  
$
1.17
 
Discontinued Operation
 
$
–
  
$
–
  
$
–
  
$
(0.01
)
Net Income per Diluted Share
 
$
0.51
  
$
0.56
  
$
0.98
  
$
1.16
 

Options to purchase approximately 92,900 and 164,400 shares of the Company's common stock for the second quarters of 2013 and 2012, respectively, and 102,100 and 135,700 shares of the Company's common stock for the first six months of 2013 and 2012, respectively, were not included in the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive. Unvested restricted stock units equivalent to approximately 2,000 shares of common stock for the second quarter of  2012, and 41,000 and 57,000 shares of common stock for the first six months of 2013 and 2012, respectively, were not included in the computation of diluted earnings per share because either the effect of their inclusion would have been anti-dilutive, or for unvested performance-based restricted stock units, the performance conditions had not been met as of the end of the reporting period.