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Earnings per Share
 6 Months Ended
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.