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Earnings per Common Share | 12 Months Ended
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Dec. 31, 2016
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common 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 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 restricted stock awards, performance shares, and stock options. The following table shows the computation of basic and diluted earnings per share:
| Fiscal Year Ended
| December 31, 2016 |  | January 2, 2016 (1) |  | January 3, 2015 (1)
| (In thousands, except per share data)
Net income (loss) | $ | 16,085 |  |  | $ | (11,576 | ) |  | $ | (13,872 | )
Basic weighted average shares outstanding | 8,913 |  |  | 8,750 |  |  | 8,600 |
Dilutive effect of share-based awards | 156 |  |  | — |  |  | — |
Diluted weighted average shares outstanding | 9,069 |  |  | 8,750 |  |  | 8,600 |
Basic earnings per share | $ | 1.80 |  |  | $ | (1.32 | ) |  | $ | (1.61 | )
Diluted earnings per share | $ | 1.77 |  |  | $ | (1.32 | ) |  | $ | (1.61 | )
(1) Basic and diluted earnings per share are equivalent for the fiscal 2015 and 2014, due to net losses for the period, and all outstanding share-based awards would be antidilutive. For fiscal years 2016, 2015, and 2014, we excluded 289,333, 512,720, and 412,981 unvested share-based awards, respectively, from the diluted earnings per share calculation because they were either anti-dilutive or “out of the money”. Outstanding share based awards not included in diluted earnings per share consist of the following securities: •Unvested restricted stock awards of 78,333, 170,334, and 218,917 for fiscal years 2016, 2015, and 2014, respectively, were anti-dilutive. •Performance shares, granted under our 2006 Plan in 2015 and 2013, which are issuable upon satisfaction of certain performance criteria. Unvested performance shares outstanding were 67,000 (out of the money), 126,306 (anti-dilutive), and 110,209 (anti-dilutive) for fiscal years 2016, 2015, and 2014, respectively. •Unvested restricted stock units of 69,000, 140,180 and 5,405 for fiscal years 2016, 2015, and 2014, respectively, were anti-dilutive. •Unexercised stock options outstanding were 75,000 (out of the money), 75,900 (anti-dilutive), and 78,450 (anti-dilutive) for fiscal years 2016, 2015, and 2014, respectively.

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