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Net Income (Loss) per Share | 9 Months Ended
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Sep. 28, 2013
Net Income (Loss) per Share |
Net Income (Loss) per Share | 12. Net Income (Loss) per Share Basic net income (loss) per share represents net income (loss) divided by the weighted average shares of common stock outstanding during the period. Diluted net income (loss) per share represents net income (loss) divided by the weighted average shares of common stock and common stock equivalents, if applicable, outstanding during the period. Common stock equivalents arise from stock options and unvested shares of restricted stock, using the treasury stock method. Under the treasury stock method, the amount the Company would receive on the exercise of stock options and the vesting of shares of restricted stock, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that would be recorded in common stock when these stock options and shares of restricted stock become deductible are assumed to be used to repurchase shares at the average share price over the applicable fiscal period, and these repurchased shares are netted against the shares underlying these stock options and these unvested shares of restricted stock. A reconciliation of basic to diluted weighted average shares of common stock outstanding is as follows (in thousands):
|  | Quarter Ended |  | Fiscal Year to Date Period Ended |
--- | --- | --- | --- | --- | ---
|  | September 28, 2013 |  | September 29, 2012 |  | September 28, 2013 |  | September 29, 2012 |
Basic weighted average shares outstanding |  |  | 10,093 |  |  | 10,084 |  |  | 10,088 |  |  | 10,214 |
Common stock equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted shares |  |  | 99 |  |  | — |  |  | 92 |  |  | 150 |
Diluted weighted average shares outstanding |  |  | 10,192 |  |  | 10,084 |  |  | 10,180 |  |  | 10,364 |
For the fiscal quarter and fiscal year-to-date period ended September 28, 2013, the anti-dilutive share-based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 1,048,432 and 1,085,432 shares, respectively. These share-based awards were antidilutive because their exercise price exceeded the average market price for this period. For the fiscal quarter ended September 29, 2012, certain share-based awards, which amounted to 1,261,319 shares, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. These share-based awards were anti-dilutive because their exercise price exceeded the average market price for this period. Additionally, approximately 130,000 common stock equivalents were excluded from diluted weighted average shares outstanding for the third quarter of fiscal 2012 because they were antidilutive as the Company had a net loss for that quarter. For the fiscal year-to-date period ended September 29, 2012, certain share-based awards, which amounted to 1,232,108 shares, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. These share-based awards were anti-dilutive because their exercise price exceeded the average market price for this period. On July 6, 2010, the Company announced that its Board of Directors approved a share repurchase program of up to $5.0 million of the Company's common stock. On August 30, 2011, February 22, 2012 and August 10, 2012, the Board of Directors authorized the repurchase of up to an additional $7.5 million, $4.45 million, and $5.0 million, respectively, of the Company's common stock under this program. During the third quarter and fiscal year to date period ended September 28, 2013, the Company repurchased 33,775 shares under this program at an average price per share of $18.70. There is approximately $3.0 million available for future repurchases under this program as of September 28, 2013. The Company records the retirement of its repurchased stock as a reduction to common stock.

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