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Earnings per Share (EPS)
 3 Months Ended
Sep. 23, 2012
Earnings per Share (EPS)  
Earnings per Share (EPS)

(5)

Earnings per Share (EPS)

 

 

The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts).

 

 

 

Three Months Ended

 

 

 

September 23, 2012

 

 

September 25, 2011

 

 

 

Diluted

 

 

Basic

 

 

Diluted

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

(43

)

 

$

(43

)

 

$

329

 

 

$

329

 

Discontinued operations

 

 

(15

)

 

 

(15

)

 

 

(16

)

 

 

(16

)

Net income available to common stockholders

 

$

(58

)

 

$

(58

)

 

$

313

 

 

$

313

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares

 

 

8,021

 

 

 

8,021

 

 

 

8,011

 

 

 

8,011

 

Dilutive stock options

 

 

92

 

 

 

-

 

 

 

117

 

 

 

-

 

Average common shares outstanding

 

 

8,113

 

 

 

8,021

 

 

 

8,128

 

 

 

8,011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations per share

 

$

(0.01

)

 

$

(0.01

)

 

$

0.04

 

 

$

0.04

 

Discontinued operations loss per common share

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Net income per common share

 

$

(0.01

)

 

$

(0.01

)

 

$

0.04

 

 

$

0.04

 

 

 

 

For the three months ended September 23, 2012, options to purchase 206,000 shares of common stock at exercise prices ranging from $3.11 to $5.51 were excluded from the computation of diluted EPS because the options’ exercise prices exceeded the average market price of the common shares for the period. For the three months ended September 25, 2011, options to purchase 40,000 shares of common stock at an exercise price of $3.17 were excluded from the computation of diluted EPS because the options’ exercise price exceeded the average market price of the common shares for the period.