XML 28 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 3 Months Ended
Apr. 01, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
9. EARNINGS PER SHARE

On January 1, 2009, we adopted the provisions of FASB’s guidance for determining whether instruments granted in share-based payment transactions are participating securities. The guidance requires that all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (such as restricted stock awards granted by us) be considered participating securities. Because restricted stock awards are participating securities, we are required to apply the two-class method of computing basic and diluted earnings per share (the “Two-Class Method”).

Basic earnings per share (“EPS”) is determined using the Two-Class Method and is computed by dividing earnings attributable to Ultralife common shareholders by the weighted-average shares outstanding during the period. The Two-Class Method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Diluted EPS includes the dilutive effect of securities, if any, and reflects the more dilutive EPS amount calculated using the treasury stock method or the Two-Class Method. For the three-month periods ended April 1, 2012 and April 3, 2011, both the Two-Class Method and the treasury stock method calculations for diluted EPS yielded the same result.

 

The computation of basic and diluted earnings per share is summarized as follows:

 

                 
    Three-Month Period Ended  
    April 1,
2012		     April 3,
2011		  

Net Income (Loss) from continuing operations attributable to Ultralife

   $ (1,431 )    $ (3,837 ) 

Net Income (Loss) from continuing operations attributable to participating securities (unvested restricted stock awards) (-0- and -0- shares, respectively)

     —         —    
   

 

 

    

 

 

  

Net Income (Loss) from continuing operations attributable to Ultralife common shareholders (a)

     (1,431 )      (3,837 ) 

Effect of Dilutive Securities

     —         —    
   

 

 

    

 

 

  

Net Income (Loss) from continuing operations attributable to Ultralife common shareholders - Adjusted (b)

   $ (1,431 )    $ (3,837 ) 
   

 

 

    

 

 

  

Net Income (Loss) from discontinued operations attributable to Ultralife common shareholders (c)

   $ (71 )    $ (1,853 ) 

Effect of Dilutive Securities

     —         —    
   

 

 

    

 

 

  

Net Income (Loss) from discontinued operations attributable to Ultralife common shareholders - Adjusted (d)

   $ (71 )    $ (1,853 ) 
   

 

 

    

 

 

  

Average Common Shares Outstanding – Basic (e)

     17,358,000       17,276,000  

Effect of Dilutive Securities:

                

Stock Options / Warrants

     —         —    

Convertible Notes Payable

     —         —    
   

 

 

    

 

 

  

Average Common Shares Outstanding – Diluted (f)

     17,358,000       17,276,000  
   

 

 

    

 

 

  

EPS – Basic (a/e) - continuing operations

   $ (0.08 )    $ (0.22 ) 

EPS – Basic (c/e) - discontinued operations

   $ (0.01 )    $ (0.11 ) 

EPS – Diluted (b/f) - continuing operations

   $ (0.08 )    $ (0.22 ) 

EPS – Diluted (d/f) - discontinued operations

   $ (0.01 )    $ (0.11 ) 

There were 2,337,528 and 1,882,812 outstanding stock options, warrants and restricted stock awards for the three-month periods ended April 1, 2012 and April 3, 2011, respectively, that were not included in EPS as the effect would be anti-dilutive.