NET INCOME PER COMMON SHARE

9 Months Ended

Oct. 02, 2016

Net Income Per Common Share [Policy Text Block]

(2) Net Income Per Share

Basic net income per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options and restricted stock units, when dilutive.

Following is a reconciliation of basic and diluted net income per share:

		Three Months Ended				Nine Months Ended
(in thousands, except per share data)		October 2,		September 27,		October 2,		September 27,
		2016		2015		2016		2015
Net (loss) income per share – basic:
	Net (loss) income from continuing operations, net of taxes	$	(2,378)	$	957	$	(2,116)	$	1,480
	Net (loss) income from discontinued operations, net of taxes		(81)		(249)		627		79
	Net (loss) income	$	(2,459)	$	708	$	(1,489)	$	1,559
	Weighted average shares outstanding		6,950		6,945		6,949		7,008
Net (loss) income from continuing operations per share – basic		$	(0.34)	$	0.14	$	(0.30)	$	0.21
Net (loss) income from discontinued operations per share – basic		$	(0.01)	$	(0.04)	$	0.09	$	0.01
Net (loss) income per share – basic		$	(0.35)	$	0.10	$	(0.21)	$	0.22

Net (loss) income per share – diluted:
	Net (loss) income from continuing operations, net of taxes	$	(2,378)	$	957	$	(2,116)	$	1,480
	Net (loss) income from discontinued operations, net of taxes		(81)		(249)		627		79
	Net (loss) income	$	(2,459)	$	708	$	(1,489)	$	1,559
	Weighted average shares outstanding		6,950		6,945		6,949		7,008
	Dilutive impact of stock equivalents outstanding		---		13		---		19
	Adjusted weighted average shares outstanding		6,950		6,958		6,949		7,027
Net (loss) income from continuing operations per share – diluted		$	(0.34)	$	0.14	$	(0.30)	$	0.21
Net (loss) income from discontinued operations per share – diluted		$	(0.01)	$	(0.04)	$	0.09	$	0.01
Net (loss) income per share – diluted		$	(0.35)	$	0.10	$	(0.21)	$	0.22

There were 543,000 and 221,000 options outstanding for the three and nine months ended October 2, 2016 and September 27, 2015, respectively, that were not included in the computation of diluted EPS because they were anti-dilutive.