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Earnings per Share | 9 Months Ended
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Sep. 28, 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 |  |  | Nine Months Ended |
|  | September 28, |  |  | September 29, |  |  | September 28, |  |  | September 29, |
(In thousands, except per share amounts) |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Amounts Attributable to Kadant: |  |  |  |  |  |  |  |  |  |  |  |
Income from Continuing Operations |  | $ | 6,461 |  |  | $ | 7,617 |  |  | $ | 17,546 |  |  | $ | 21,277 |
(Loss) Income from Discontinued Operation |  |  | (14 | ) |  |  | 844 |  |  |  | (55 | ) |  |  | 780 |
Net Income |  | $ | 6,447 |  |  | $ | 8,461 |  |  | $ | 17,491 |  |  | $ | 22,057 |
Basic Weighted Average Shares |  |  | 11,153 |  |  |  | 11,341 |  |  |  | 11,165 |  |  |  | 11,523 |
Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan |  |  | 212 |  |  |  | 150 |  |  |  | 156 |  |  |  | 110 |
Diluted Weighted Average Shares |  |  | 11,365 |  |  |  | 11,491 |  |  |  | 11,321 |  |  |  | 11,633 |
Basic Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing Operations |  | $ | 0.58 |  |  | $ | 0.67 |  |  | $ | 1.57 |  |  | $ | 1.85 |
Discontinued Operation |  | $ | – |  |  | $ | 0.07 |  |  | $ | – |  |  | $ | 0.07 |
Net Income per Basic Share |  | $ | 0.58 |  |  | $ | 0.75 |  |  | $ | 1.57 |  |  | $ | 1.91 |
Diluted Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing Operations |  | $ | 0.57 |  |  | $ | 0.66 |  |  | $ | 1.55 |  |  | $ | 1.83 |
Discontinued Operation |  | $ | – |  |  | $ | 0.07 |  |  | $ | – |  |  | $ | 0.07 |
Net Income per Diluted Share |  | $ | 0.57 |  |  | $ | 0.74 |  |  | $ | 1.55 |  |  | $ | 1.90 |
Options to purchase approximately 92,900 and 164,400 shares of the Company's common stock for the third quarters of 2013 and 2012, respectively, and 99,000 and 145,300 shares of the Company's common stock for the first nine 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 27,200 and 38,000 shares of common stock for the first nine 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.

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