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Computation of Basic and Diluted Net Income (Loss) Per Common Share | 6 Months Ended
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Jun. 29, 2013
Computation of Basic and Diluted Net Income (Loss) Per Common Share | 8. Computation of Basic and Diluted Net Income (Loss) Per Common Share Basic net income per share is computed by dividing net income for the period by the weighted average number of shares outstanding during the period. Diluted net income per share is computed as follows: In periods of net income from continuing operations, diluted net income per share is computed by dividing net income for the period by the weighted average number of shares, plus the weighted average common stock equivalents outstanding during the period, which includes 1,000,000 shares of common stock issuable upon conversion of 500,000 shares of convertible Series A Preferred Stock. In June 2013, the Series A Preferred Stock was converted into 1,000,000 shares of common stock. T he Company excludes options from the computation of diluted weighted average shares outstanding if the exercise price of the options is greater than the average market price of the shares because the inclusion of these options would be anti-dilutive to earnings per share. Accordingly, for the three months ended June 29, 2013 and June 30, 2012, respectively, stock options to purchase 539,230 and 921,241 shares were excluded from the computation of diluted weighted average shares outstanding. For the six months ended June 29, 2013 and June 30, 2012, respectively, stock options to purchase 574,656 and 880,371 shares were excluded from the computation of diluted weighted average shares outstanding. In periods of net loss from continuing operations, the basic and diluted weighted average shares of common stock and common stock equivalents are the same because inclusion of common stock equivalents would be anti-dilutive. A reconciliation of the numerator and denominator of basic and diluted net income (loss) per common share is provided as follows :
| Three Months Ended |  |  | Six Months Ended |
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(in thousands, except per share amounts) | June 29, 2013 |  |  | June 30, 2012 |  |  | June 29, 2013 |  |  | June 30, 2012 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ |  | 415 |  |  | $ |  | 397 |  |  | $ |  |  | 1,289 |  |  | $ |  | 132 |
I ncome (loss) from discontinued operations |  | 0 |  |  |  | (61 | ) |  |  | 0 |  |  |  | 1,809 |
Net income | $ |  | 415 |  |  | $ |  | 336 |  |  | $ |  |  | 1,289 |  |  | $ |  | 1,941 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock (basic) |  | 8,824 |  |  |  | 8,983 |  |  |  | 8,668 |  |  |  | 8,958 |
Effect of dilutive preferred shares |  | 792 |  |  |  | 1,000 |  |  |  | 895 |  |  |  | 1,000 |
Effect of dilutive stock options |  | 273 |  |  |  | 262 |  |  |  | 267 |  |  |  | 277 |
Effect of dilutive contingent shares |  | 116 |  |  |  | 41 |  |  |  | 73 |  |  |  | 35 |
Weighted average shares of common stock (diluted) |  | 10,005 |  |  |  | 10,286 |  |  |  | 9,903 |  |  |  | 10,270 |
Per share data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income before discontinued operations | $ |  | 0.05 |  |  | $ |  | 0.04 |  |  | $ |  |  | 0.15 |  |  | $ |  | 0.01 |
Discontinued operations |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.21 |
Net income | $ |  | 0.05 |  |  | $ |  | 0.04 |  |  | $ |  |  | 0.15 |  |  | $ |  | 0.22 |
Diluted income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income before discontinued operations |  | 0.04 |  |  |  | 0.04 |  |  |  | 0.13 |  |  |  | 0.01 |
Discontinued operations |  | 0.00 |  |  |  | (0.01 | ) |  |  | 0.00 |  |  |  | 0.18 |
Net income | $ |  | 0.04 |  |  | $ |  | 0.03 |  |  | $ |  |  | 0.13 |  |  | $ |  | 0.19 |

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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 Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -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. Reference 3: 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=6880815&loc=d3e20235-122688 Reference 4: 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 5: 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=16381557&loc=d3e4984-109258 Reference 6: 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 + Details
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