XML 50 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 9 - Earnings (Loss) Per Common Share
 9 Months Ended
Sep. 28, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

(9)

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 786,000 potential common shares excluded from diluted earnings per share for the nine months ended September 28, 2014. For the three months ended September 28, 2014 and for the three and nine months ended September 29, 2013, diluted weighted average common shares does not include the impact of 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

   

Nine Months Ended

 
   

September 28,

   

September 29,

   

September 28,

   

September 29,

 
   

2014

   

2013

   

2014

   

2013

 
   

(Unaudited)

   

(Unaudited)

 
                                 

(Loss) income attributable to stockholders:

                               

Net (loss) income as reported

  $ (1,159

)

  $ (1,995

)

  $ 863     $ (9,948

)

Less dividends declared attributable to restricted award holders

    (15

)

    (12

)

    (46

)

    (35

)

Net income (loss) allocable to common stockholders

  $ (1,174

)

  $ (2,007

)

  $ 817     $ (9,983

)

                                 

Income (loss) per common share attributable to stockholders:

                               

Basic

  $ (0.06

)

  $ (0.10

)

  $ 0.04     $ (0.52

)

Diluted

  $ (0.06

)

  $ (0.10

)

  $ 0.04     $ (0.52

)

                                 

Weighted average shares outstanding – basic

    19,612       19,373       19,564       19,303  

Weighted average additional shares assuming conversion of potential common shares

    0       0       43       0  

Weighted average shares outstanding – diluted

    19,612       19,373       19,607       19,303