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Earnings (Loss) Per Common Share
9 Months Ended
Oct. 02, 2011
Earnings (Loss) Per Common Share [Abstract] 
Earnings (Loss) Per Common Share

(10) Earnings (Loss) Per Common Share

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

Our potentially dilutive securities include potential common shares related to our stock options and restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted earnings per share excludes the impact of common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. There were 1,097,000 and 654,000 potential common shares excluded from diluted earnings per share for the three and nine months ended October 2, 2011, respectively, because the effect of inclusion would be anti-dilutive.

A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted earnings (loss) per common share is as follows (in thousands):

 

     Three Months Ended     Nine Months Ended  
     October 2,
2011		     October 3,
2010		     October 2,
2011		     October 3,
2010		  
     (Unaudited)     (Unaudited)  

Earnings attributable to stockholders:

         

Income (loss) from continuing operations attributable to stockholders

    $ 6,082      $ (1,695 )    $ 7,034      $ (8,083 ) 

Discontinued operations, net of tax

      0        (196 )      (450 )      (496 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

      6,082        (1,891 )      6,584        (8,579 ) 

Less distributed and undistributed earnings allocable to restricted award holders

      (336 )      0        (325 )      0   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) allocable to common stockholders

    $ 5,746      $ (1,891 )    $ 6,259      $ (8,579 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Basic earnings (loss) per common share attributable to stockholders:

         

Continuing operations

    $ 0.30      $ (0.09 )    $ 0.35      $ (0.43 ) 

Discontinued operations

      0.00        (0.01 )      (0.02 )      (0.03 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 0.30      $ (0.10 )    $ 0.33      $ (0.46 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) per common share attributable to stockholders:

         

Continuing operations

    $ 0.30      $ (0.09 )    $ 0.35      $ (0.43 ) 

Discontinued operations

      0.00        (0.01 )      (0.02 )      (0.03 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 0.30      $ (0.10 )    $ 0.33      $ (0.46 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding-basic

      18,844        18,628        18,813        18,596   

Weighted average additional shares assuming conversion of potential common shares

      180        0        186        0   
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding-diluted

      19,024        18,628        18,999        18,596