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Computation of Basic and Diluted Net Income Per Common Share | 3 Months Ended
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Mar. 29, 2014
Computation of Basic and Diluted Net Income Per Common Share | 8. Computation of Basic and Diluted Net Income 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 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. The 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 March 29, 2014 and March 30, 2013, respectively, stock options to purchase 48,253 and 755,013 shares were excluded from the computation of diluted weighted average shares outstanding. A reconciliation of the numerator and denominator of basic and diluted net income per common share is provided as follows:
|  | Three Months Ended |
(in thousands, except per share amounts) |  | March 29, 2014 |  |  | March 30, 2013 |
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 487 |  |  | $ | 874 |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares of common stock (basic) |  |  | 9,963 |  |  |  | 8,511 |
Effect of dilutive preferred shares |  |  | — |  |  |  | 1,000 |
Effect of dilutive stock options |  |  | 371 |  |  |  | 261 |
Effect of dilutive contingent shares |  |  | 192 |  |  |  | 30 |
Weighted average shares of common stock (diluted) |  |  | 10,526 |  |  |  | 9,802 |
Per share data: |  |  |  |  |  |  |  |
Basic net income per share |  | $ | 0.05 |  |  | $ | 0.10 |
Diluted net income per share |  | $ | 0.05 |  |  | $ | 0.09 |

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