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Note 8 - Earnings (Loss) Per Common Share

3 Months Ended

Mar. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

(8)           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 858,000 potential common shares excluded from diluted earnings per share for the three months ended March 30, 2014. For the three months ended March 31, 2013, diluted weighted average common shares do not include the impact of any outstanding stock options and unvested compensation-related shares because the effect of these items on diluted net loss 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
		March 30,				March 31,
		2014				2013
		(Unaudited)
Income (loss) attributable to stockholders:
Income (loss) from continuing operations as reported		$	1,652			$	(6,459	)
Less distributed and undistributed earnings allocable to restricted awarded holders			(54	)			0
Less dividends declared attributed to restricted awarded holders			(14	)			(12	)
Net income (loss) allocable to common stockholders		$	1,584			$	(6,471	)
Income (loss) per common share attributable to stockholders:
Basic		$	0.08			$	(0.34	)
Diluted		$	0.08			$	(0.34	)
Weighted average shares outstanding – basic			19,417				19,151
Weighted average additional shares assuming conversion of potential common shares			29				0
Weighted average shares outstanding – diluted			19,446				19,151

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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 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257



Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

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-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256



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-Publisher FASB

-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258



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-Publisher FASB

-Name Accounting Standards Codification

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