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Note 9 - Earnings Per Share | 6 Months Ended
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Jul. 01, 2012
Earnings Per Share [Text Block] |
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- and six-month periods ended July 1, 2012 and July 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 |  |  | Six-Month Period Ended |
|  | July 1, 2012 |  |  | July 3, 2011 |  |  | July 1, 2012 |  |  | July 3, 2011 |
Net Income (Loss) from continuing operations attributable to Ultralife |  | $ | (3,216 | ) |  | $ | 2,764 |  |  | $ | (4,647 | ) |  | $ | (1,073 | )
Net Income (Loss) from continuing operations attributable to participating securities (unvested restricted stock awards) (-0-, 2,000, -0- and -0- shares, respectively) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Net Income (Loss) from continuing operations attributable to Ultralife common shareholders (a) |  |  | (3,216 | ) |  |  | 2,764 |  |  |  | (4,647 | ) |  |  | (1,073 | )
Effect of Dilutive Securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Net Income (Loss) from continuing operations attributable to Ultralife common shareholders - Adjusted (b) |  | $ | (3,216 | ) |  | $ | 2,764 |  |  | $ | (4,647 | ) |  | $ | (1,073 | )
Net Income (Loss) from discontinued operations attributable to Ultralife common shareholders (c) |  | $ | 49 |  |  | $ | (2,325 | ) |  | $ | (22 | ) |  | $ | (4,178 | )
Effect of Dilutive Securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Net Income (Loss) from discontinued operations attributable to Ultralife common shareholders - Adjusted (d) |  | $ | 49 |  |  | $ | (2,325 | ) |  | $ | (22 | ) |  | $ | (4,178 | )
Average Common Shares Outstanding – Basic (e) |  |  | 17,396,000 |  |  |  | 17,296,000 |  |  |  | 17,376,000 |  |  |  | 17,286,000 |
Effect of Dilutive Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Options / Warrants |  |  | - |  |  |  | 12,000 |  |  |  | - |  |  |  | - |
Average Common Shares Outstanding – Diluted (f) |  |  | 17,396,000 |  |  |  | 17,308,000 |  |  |  | 17,376,000 |  |  |  | 17,286,000 |
EPS – Basic (a/e) - continuing operations |  | $ | (0.18 | ) |  | $ | 0.16 |  |  | $ | (0.27 | ) |  | $ | (0.06 | )
EPS – Basic (c/e) - discontinued operations |  | $ | 0.00 |  |  | $ | (0.13 | ) |  | $ | (0.00 | ) |  | $ | (0.24 | )
EPS – Diluted (b/f) - continuing operations |  | $ | (0.18 | ) |  | $ | 0.16 |  |  | $ | (0.27 | ) |  | $ | (0.06 | )
EPS – Diluted (d/f) - discontinued operations |  | $ | 0.00 |  |  | $ | (0.13 | ) |  | $ | (0.00 | ) |  | $ | (0.24 | )
There were 2,363,928 and 1,820,419 outstanding stock options, warrants and restricted stock awards for the three-month periods ended July 1, 2012 and July 3, 2011, respectively, that were not included in EPS as the effect would be anti-dilutive. The dilutive effect of -0- and 180,177 outstanding stock options, warrants and restricted stock awards were included in the dilution computation for the three-month periods ended July 1, 2012 and July 3, 2011, respectively. There were 2,363,928 and 2,000,596 outstanding stock options, warrants and restricted stock awards for the six-month periods ended July 1, 2012 and July 3, 2011, respectively, that were not included in EPS as the effect would be anti-dilutive.

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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 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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