Shares Used In Computing Earnings (Loss) Per Share

9 Months Ended

Oct. 02, 2011

Shares Used In Computing Earnings (Loss) Per Share

Note 9. Shares Used in Computing Earnings (Loss) per Share

Basic earnings (loss) per share are calculated using the weighted average number of common shares issued and outstanding for the applicable period. Diluted loss per share is computed using basic weighted average shares issued and outstanding plus the dilutive effect of unvested restricted stock and outstanding stock options using the "treasury stock" method.


	Three Months Ended				Nine Months Ended
	October 2, 2011		September 26, 2010		October 2, 2011		September 26, 2010
Weighted average shares – basic		59,796,470		61,411,826		59,959,396		61,732,126
Dilutive effect of unvested restricted shares and stock options		100,166		—		—		—

Weighted average shares – diluted		59,896,636		61,411,826		59,959,396		61,732,126

Our employees and directors held options to purchase 155,540 shares of our common stock for the nine months ended October 2, 2011, and 3,600,320 and 2,981,840 shares of our common stock for the three and nine months ended September 26, 2010, respectively, that were not included in weighted average shares diluted calculation because they were anti-dilutive to the diluted loss per share computation. These options would become dilutive in future periods if the average market price of our common stock exceeds the exercise price of the outstanding options and we report net earnings. Similar shares in the third quarter of 2011 were included in the weighted average shares diluted calculation.

During the nine months ended October 2, 2011, we entered into a share repurchase agreement with a broker under Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, to facilitate the repurchase of up to an aggregate total of $10 million of our outstanding common stock, pursuant to our previously announced share repurchase authorization approved by our Board of Directors in 2010. During the nine months ended October 2, 2011, we repurchased 936,533 shares of our outstanding common stock at an average price of $10.68 per share pursuant to the share repurchase agreement.

During the quarter ended September 26, 2010, we entered into a share repurchase agreement with a broker under Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, to facilitate the repurchase of up to an aggregate total of $20 million of our outstanding common stock, pursuant to any previously announced share repurchase authorization approved by our Board of Directors. During the three and nine months ended September 26, 2010 we repurchased 1,835,865 shares of our outstanding common stock at an average price of $10.89 per share pursuant to these share repurchase agreements.