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EARNINGS PER SHARE ("EPS")
 12 Months Ended
Dec. 30, 2011
EARNINGS PER SHARE ("EPS")  
EARNINGS PER SHARE ("EPS")

5. EARNINGS PER SHARE ("EPS")

        Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding and dilutive potential common shares for the period. Potential common shares include the weighted-average dilutive effects of outstanding stock options using the treasury stock method.

        The following table sets forth the number of weighted-average shares used to compute basic and diluted EPS:

 
   Fiscal Year  
 
   2011   2010   2009  

Net income (loss)

   $ 1,830,000   $ 2,720,000   $ (5,575,000 )
               

Weighted-average common shares outstanding

     7,262,000     7,233,000     7,192,000  

Effect of dilutive stock options

     223,000     78,000     —  
               

Weighted-average common stock outstanding-diluted

     7,485,000     7,311,000     7,192,000  
               

Earnings (loss) per share:

                    

Basic

   $ 0.25   $ 0.38   $ (0.78 )
               

Diluted

   $ 0.24   $ 0.37   $ (0.78 )
               

        For the fiscal year ended December 30, 2011, 304,000 options were excluded from the calculation of dilutive potential common shares, compared to 524,000 and 566,000 options, for fiscal 2010 and fiscal 2009, respectively. These options were not included in the computation of dilutive potential common shares because the assumed proceeds per share exceeded the average market price per share for the periods. Accordingly, the inclusion of these options would have been anti-dilutive. For periods in which the Company incurs net losses, dilutive potential common shares are excluded as they would be anti-dilutive.