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Earnings Per Share
 9 Months Ended
Oct. 01, 2016
Earnings Per Share [Abstract]  
Earnings per Share
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 restricted stock awards, restricted stock units, performance shares, performance units, and stock options. Antidilutive common stock equivalents excluded from the diluted earnings per share calculation are not material.
The following table shows the computation of basic and diluted earnings per share (in thousands, except per share data):
 
Three months ended
 
Nine months ended
 
October 1, 2016
 
October 3, 2015
 
October 1, 2016
 
October 3, 2015 (1)
Net income (loss)
$
15,008

 
$
561

 
$
5,720

 
$
(5,514
)
 
 
 
 
 
 
 
 
Basic weighted shares outstanding
8,900

 
8,769

 
8,891

 
8,741

Dilutive effect of share-based awards
30

 
38

 
72

 
—

Diluted weighted average shares outstanding
8,930

 
8,807

 
8,963

 
8,741

 
 
 
 
 
 
 
 
Basic earnings per share
$
1.69

 
$
0.06

 
$
0.64

 
$
(0.63
)
Diluted earnings per share
$
1.68

 
$
0.06

 
$
0.64

 
$
(0.63
)
(1) Basic and diluted earnings per share are equivalent for the nine months ended October 3, 2015, due to net losses for the period.