NET (LOSS) INCOME PER SHARE

6 Months Ended

Jun. 27, 2015

NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period less any non-vested restricted shares. Diluted earnings per common share, if applicable, is calculated using weighted average shares outstanding and contingently issuable shares, less weighted average shares reacquired during the period. The net outstanding shares are adjusted for the dilutive effect of shares issuable upon the assumed conversion of the Company’s common stock equivalents, which consist of outstanding stock options and non-vested restricted stock units.

Weighted average common shares outstanding used to calculate earnings per share are as follows:



	Three Months Ended		Six Months Ended
	June 27, 2015	June 28, 2014	June 27, 2015	June 28, 2014
Weighted average common shares outstanding-basic	63,066,031	62,643,506	63,074,842	62,586,854
Stock options and non-vested restricted common stock	234,750	—	—	—
Weighted average common shares outstanding-diluted	63,300,781	62,643,506	63,074,842	62,586,854

The following were not included in weighted average common shares outstanding-diluted because they are anti-dilutive or performance or market conditions had not been met at the end of the period:



	Three Months Ended		Six Months Ended
	June 27, 2015	June 28, 2014	June 27, 2015	June 28, 2014
Non-vested restricted common stock	1,374,000	3,383,148	3,074,111	3,383,148
Stock options	—	399,600	—	399,600
Total	1,374,000	3,782,748	3,074,111	3,782,748

For the three and six month periods ended June 28, 2014, the warrants to purchase 200,000 shares of the Company's common stock for $3.49 per share were not included in weighted average common shares outstanding-diluted. These warrants were exercised during the six month period ended June 27, 2015.