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Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2012

Income (Loss) Per Common Share [Abstract]

Income (Loss) Per Common Share

(10) Income (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 in those periods 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 45,000 and 521,000 potential common shares excluded from diluted earnings per share for the three and nine months ended September 30, 2012, respectively. There were 1,097,000 and 654,000 potential shares excluded from diluted earnings per share for the three and nine months ended October 2, 2011, respectively.

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

		Three Months Ended								Nine Months Ended
		September 30, 2012				October 2, 2011				September 30, 2012				October 2, 2011
		(Unaudited)								(Unaudited)
Basic and Diluted Net Earnings:
Income from continuing operations as reported		$	592			$	6,082			$	11,117			$	7,034
Less distributed and undistributed earnings allocable to restricted award holders			(10	)			(336	)			(483	)			(325	)
Less dividends declared attributable to restricted award holders			(17	)			0				(46	)			0
Net income from continuing operations allocable to common stockholders			565				5,746				10,588				6,709
Loss from discontinued operations, net of tax allocable to common stockholders			(6,331	)			0				(7,130	)			(450	)
Net income (loss) allocable to common stockholders		$	(5,766	)		$	5,746			$	3,458			$	6,259

		Three Months Ended								Nine Months Ended
		September 30, 2012				October 2, 2011				September 30, 2012				October 2, 2011
		(Unaudited)								(Unaudited)
Weighted average shares outstanding – basic			19,074				18,844				19,038				18,813
Weighted average additional shares assuming conversion of potential common shares			493				180				385				186
Weighted average shares outstanding – diluted			19,567				19,024				19,423				18,999
Basic income (loss) per common share attributable to stockholders:
Continuing operations		$	0.03			$	0.30			$	0.56			$	0.35
Discontinued operations			(0.33	)			0.00				(0.37	)			(0.02	)
Net (loss) income		$	(0.30	)		$	0.30			$	0.19			$	0.33
Diluted income (loss) per common share attributable to stockholders:
Continuing operations		$	0.03			$	0.30			$	0.55			$	0.35
Discontinued operations			(0.32	)			0.00				(0.37	)			(0.02	)
Net (loss) income		$	(0.29	)		$	0.30			$	0.18			$	0.33

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Name Accounting Standards Codification

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-Name Accounting Standards Codification

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-Name Statement of Financial Accounting Standard (FAS)

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-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.



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