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3. Earnings per Share | 6 Months Ended
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Jul. 01, 2017
Earnings (loss) per share: |
Earnings per Share | Basic income per common share is computed based on the weighted average number of common shares outstanding. Diluted income per common share is computed based on the weighted average number of shares of common stock outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive shares of common stock been issued. Potentially dilutive shares of common stock include unexercised stock options and warrants. Basic per share amounts are computed, generally, by dividing net income attributable to controlling interest by the weighted average number of shares of common stock outstanding. Diluted per share amounts assume the conversion, exercise or issuance of all potential common stock instruments unless their effect is anti-dilutive, thereby reducing the loss or increasing the income per common share. In calculating diluted weighted average shares and per share amounts, we included stock options and warrants with exercise prices below average market prices, for the respective reporting periods in which they were dilutive, using the treasury stock method. We calculated the number of additional shares by assuming the outstanding stock options were exercised and that the proceeds from such exercises were used to acquire shares of common stock at the average market price during the quarter. For the 13 weeks and 26 weeks ended July 1, 2017 and July 2, 2016, we excluded options and warrants to purchase 734 and 734 shares of common stock from the diluted weighted average shares outstanding calculation as the effect of these options were anti-dilutive.
|  | 13 Weeks Ended |  |  | 26 Weeks Ended |
|  | July 1, 2017 |  |  | July 2, 2016 |  |  | July 1, 2017 |  |  | July 2, 2016 |
Basic |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributed to controlling interest |  | $ | 2,063 |  |  | $ | (2,103 | ) |  | $ | 4,271 |  |  | $ | (2,554 | )
Weighted average common shares outstanding |  |  | 6,655 |  |  |  | 5,929 |  |  |  | 6,655 |  |  |  | 5,915 |
Basic earnings (loss) per share |  | $ | 0.31 |  |  | $ | (0.35 | ) |  | $ | 0.64 |  |  | $ | (0.43 | )
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) applicable to diluted earnings (loss) per share |  | $ | 2,063 |  |  | $ | (2,103 | ) |  | $ | 4,271 |  |  | $ | (2,554 | )
Weighted average common shares outstanding |  |  | 6,655 |  |  |  | 5,929 |  |  |  | 6,655 |  |  |  | 5,915 |
Add: Options |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Add: Common Stock Warrants |  |  | 32 |  |  |  | – |  |  |  | 51 |  |  |  | – |
Assumed diluted weighted average common shares outstanding |  |  | 6,687 |  |  |  | 5,929 |  |  |  | 6,706 |  |  |  | 5,915 |
Diluted earnings (loss) per share |  | $ | 0.31 |  |  | $ | (0.35 | ) |  | $ | 0.64 |  |  | $ | (0.43 | )

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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