Earnings per Share

9 Months Ended

Oct. 03, 2015

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 using the treasury stock method, 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. Basic and diluted earnings per share are equivalent for the nine months ended October 3, 2015, and the three and nine months ended October 4, 2014, due to net losses for those periods.

The reconciliation of basic and diluted income per common share for the three months ended October 3, 2015 was as follows (in thousands, except per share data):



	Three Months Ended October 3, 2015
Net income	$	561

Basic weighted shares outstanding	87,690
Dilutive effect of share-based awards	383
Diluted weighted average shares outstanding	88,073

Basic earnings per share	$	0.01
Diluted earnings per share	$	0.01