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Note 8 - (Loss) Earnings Per Common Share | 3 Months Ended
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Apr. 05, 2015
Earnings Per Share [Abstract] |
Earnings Per Share [Text Block] |
(8) | (Loss) Earnings 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. For the three months ended April 5, 2015, 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. There were 858,000 potential common shares excluded from diluted earnings per share for the three months ended March 30, 2014. A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted (loss) earnings per common share is as follows (in thousands):
|  | Three Months Ended |
|  | April 5, 2015 |  |  | March 30, 2014 |
|  | (Unaudited) |
(Loss) income attributable to stockholders: |  |  |  |  |  |  |  |
Net (loss) as reported |  | $ | (13,033 | ) |  | $ | 1,652 |
Less distributed and undistributed earnings allocable to restricted awarded holders |  |  | 0 |  |  |  | (54 | )
Less dividends declared attributed to restricted awarded holders |  |  | 0 |  |  |  | (14 | )
Net (loss) income allocable to common stockholders |  | $ | (13,033 | ) |  | $ | 1,584 |
|  | Three Months Ended |
|  | April 5, |  |  | March 30, |
|  | 2015 |  |  | 2014 |
|  | (Unaudited) |
(Loss) income per common share attributable to stockholders: |  |  |  |  |  |  |  |
Basic |  | $ | (0.66 | ) |  | $ | 0.08 |
Diluted |  | $ | (0.66 | ) |  | $ | 0.08 |
Weighted average shares outstanding – basic |  |  | 19,650 |  |  |  | 19,417 |
Weighted average additional shares assuming conversion of potential common shares |  |  | 0 |  |  |  | 29 |
Weighted average shares outstanding – diluted |  |  | 19,650 |  |  |  | 19,446 |

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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 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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