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Earnings per Share | 6 Months Ended
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Jun. 28, 2014
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 28, |  |  | June 29, |  |  | June 28, |  |  | June 29, |
(In thousands, except per share amounts) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Amounts Attributable to Kadant: |  |  |  |  |  |  |  |  |  |  |  |
Income from Continuing Operations |  | $ | 7,867 |  |  | $ | 5,772 |  |  | $ | 12,925 |  |  | $ | 11,085 |
Income from Discontinued Operation |  |  | (9 | ) |  |  | (12 | ) |  |  | (14 | ) |  |  | (41 | )
Net Income |  | $ | 7,858 |  |  | $ | 5,760 |  |  | $ | 12,911 |  |  | $ | 11,044 |
Basic Weighted Average Shares |  |  | 11,049 |  |  |  | 11,178 |  |  |  | 11,091 |  |  |  | 11,170 |
Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan |  |  | 197 |  |  |  | 153 |  |  |  | 189 |  |  |  | 129 |
Diluted Weighted Average Shares |  |  | 11,246 |  |  |  | 11,331 |  |  |  | 11,280 |  |  |  | 11,299 |
Basic Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing Operations |  | $ | 0.71 |  |  | $ | 0.52 |  |  | $ | 1.17 |  |  | $ | 0.99 |
Discontinued Operation |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |
Net Income per Basic Share |  | $ | 0.71 |  |  | $ | 0.52 |  |  | $ | 1.16 |  |  | $ | 0.99 |
Diluted Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing Operations |  | $ | 0.70 |  |  | $ | 0.51 |  |  | $ | 1.15 |  |  | $ | 0.98 |
Discontinued Operation |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |
Net Income per Diluted Share |  | $ | 0.70 |  |  | $ | 0.51 |  |  | $ | 1.14 |  |  | $ | 0.98 |
Options to purchase approximately 93,000 and 102,000 shares of the Company's common stock in the second quarter and first six months of 2013, 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 69,000 shares of common stock for the second quarter of 2014 and approximately 63,000 and 41,000 shares of common stock for the first six months of 2014 and 2013, 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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