Quarterly Results Of Operations

12 Months Ended

Jan. 01, 2012

Quarterly Results Of Operations [Abstract]

Quarterly Results Of Operations

Unaudited Quarterly Results of Operations

     The following is a summary of the quarterly results of operations for the years ended January 1, 2012 and January 2, 2011 (in thousands, except per share amounts):

				2011 Quarters Ended
		April 3		July 3		October 2			January 1
Net sales		40,749		38,564		36,944			40,918
Operating income (loss)		1,776		458		(551	)		1,0161,2,3
Net income		1,062		57		(606	)		344
Basic earnings (loss) per share		.18		.01		(.10	)		.06
Diluted earnings (loss) per share		.18		.01		(.10	)		.06
				2010 Quarters Ended
		April 4		July 4		October 3			January 2
Net sales	$	38,725	$	36,336	$	35,164		$	38,793
Operating income (loss)		1,548		110		(528	)		1,132 2,3
Net income		797		264		1,4784			495
Basic earnings per share		.13		0		.25			.08
Diluted earnings per share		.13		0		.25			.08

¹ Includes approximately $800 of expense related to the defense and settlement, which is subject to court approval, of a lawsuit involving allegations of tip share pool violations.

² Includes adjustment to increase deferred compensation expense of $323 in the fourth quarter of 2011 and $215 in the fourth quarter of 2010.

³ Includes accrual of bonus compensation expense of $204 in the fourth quarter of 2010 and reversal of $197 in previously accrued bonus compensation in the fourth quarter of 2011.

⁴ Includes income tax benefits of $480 in the second quarter of 2010 and $2,100 in the third quarter of 2010 as a result of the impact of tax strategies implemented by the Company during 2010 to accelerate certain tax deductions for the 2009 tax year, resulting in an increase in the federal net operating loss for 2009 and the net operating loss carryback available to offset taxable income in previous years.