Earnings per Share

6 Months Ended

Jul. 04, 2015

Earnings per Share

We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding unvested restricted shares. We calculate diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including stock options and restricted stock awards. Antidilutive common stock equivalents excluded from the diluted earnings per share calculation are not material. Due to year-to-date net losses, basic and diluted earnings per share are equivalent for the six months ended July 4, 2015 and July 5, 2014.

The reconciliation of basic and diluted income per common share for the three months ended July 4, 2015 and July 5, 2014 was as follows (in thousands, except per share data):



	Three Months Ended July 4, 2015		Three Months Ended July 5, 2014
Net income	$	2,870	$	3,236

Basic weighted shares outstanding	87,399		85,874
Dilutive effect of share-based awards	463		598
Diluted weighted average shares outstanding	87,862		86,472

Basic earnings per share	$	0.03	$	0.04
Diluted earnings per share	$	0.03	$	0.04