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Note 7 - Loss Per Common Share

3 Months Ended

Apr. 03, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

(7)           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. For the three months ended April 3, 2016 and 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.

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

		Three Months Ended
		April 3,				April 5,
		2016				2015
		(Unaudited)
Loss attributable to stockholders:
Net loss as reported		$	(5,099	)		$	(13,033	)
Less distributed and undistributed earnings allocable to restricted awarded holders			0				0
Less dividends declared attributed to restricted awarded holders			0				0
Net loss allocable to common stockholders		$	(5,099	)		$	(13,033	)
Loss per common share attributable to stockholders:
Basic		$	(0.26	)		$	(0.66	)
Diluted		$	(0.26	)		$	(0.66	)
Weighted average shares outstanding – basic			19,702				19,650
Weighted average additional shares assuming conversion of potential common shares			0				0
Weighted average shares outstanding – diluted			19,702				19,650

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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
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256

Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
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-URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 55
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-URI http://asc.fasb.org/extlink&oid=65016374&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
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-URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688

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