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Earnings per Share
 9 Months Ended
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.