Net Income (Loss) Per Share

12 Months Ended

Dec. 28, 2013

Net Income (Loss) Per Share

Net Income (Loss) Per Share

10.   Net Income (Loss) Per Share

        Basic net income (loss) per share represents net income (loss) divided by the weighted average shares of common stock outstanding during the period. Diluted net income per share represents net income divided by the weighted average shares of common stock and common stock equivalents, if applicable, outstanding during the period. Common stock equivalents arise from stock options and unvested shares of restricted stock, using the treasury stock method. Under the treasury stock method, the amount CRA would receive on the exercise of stock options and the vesting of shares of restricted stock, the amount of compensation cost for future service that CRA has not yet recognized, and the amount of tax benefits that would be recorded in common stock when these stock options and shares of restricted stock become deductible are assumed to be used to repurchase shares at the average share price over the applicable fiscal period, and these repurchased shares are netted against the shares underlying these stock options and these unvested shares of restricted stock. A reconciliation of basic to diluted weighted average shares of common stock outstanding is as follows (in thousands):

	Fiscal Year 2013		Fiscal Year 2012		Fiscal Year 2011
Basic weighted average shares outstanding		10,084		10,167		10,555
Common stock equivalents:
Stock options and restricted stock		89		—		184
Diluted weighted average shares outstanding		10,173		10,167		10,739

        For fiscal 2013, fiscal 2012, and fiscal 2011, certain share-based awards, which amounted to 1,138,411, 1,947,992, and 1,045,351 shares, respectively, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. These share-based awards were anti-dilutive because their exercise price exceeded the average market price over the applicable period. Additionally, approximately 140,000 common stock equivalents were excluded from diluted weighted average shares outstanding for fiscal 2012 because they were anti-dilutive as CRA had a net loss for that period.