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Net Income (Loss) Per Common Share
 12 Months Ended
Dec. 30, 2012
Earnings Per Share [Abstract]  
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share
 
The Company calculates net income (loss) per share in accordance with FASB ASC Topic 260, Earnings per Share (“Topic 260”). Under Topic 260, basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted net income (loss) per common share reflects the effects of potentially dilutive securities.

In prior reporting periods, the Company had two classes of participating securities, Series B Convertible Preferred Stock and common stock. The two classes of participating securities: common shares and preferred shares represented 99% and 1% of outstanding shares, respectively. The preferred shareholders had the ability to participate in dividends with common shareholders according to a predetermined formula (one for one) based upon the conversion of preferred shares to common shares. On March 8, 2011, all of the 10,000 shares of the previously issued and outstanding shares of Series B Convertible Preferred Stock were redeemed for 100,000 shares of common stock.

(In millions, except earnings per share)
 
December 26, 2010
 
December 25, 2011
 
December 30, 2012
 
Net income (loss) from continuing operations
 
$
14.6

 
$
(23.5
)
 
$
(112.9
)

Less net income from continuing operations allocated to preferred shareholders
 
(0.1
)
 
—

 
—

 
Net income (loss) from continuing operations allocated to common shareholders (A)
 
$
14.5

 
$
(23.5
)
 
$
(112.9
)

Weighted average outstanding shares of common stock (B)
 
16.5

 
27.4

 
46.9

 
Weighted average shares from preferred stock
 
0.1

 
—

 
—

 
Basic weighted average outstanding shares of common stock and participating securities
 
16.6

 
27.4

 
46.9

 
Dilutive effect of employee stock options and awards
 
0.3

 
—

 
—

 
Common stock and common stock equivalents(C)
 
16.9

 
27.4

 
46.9

 
Net income (loss) from continuing operations per common share:
 
 
 
 
 
 
 
Basic (A/B)
 
$
0.88

 
$
(0.86
)
 
$
(2.41
)
 
Diluted (A/C)
 
$
0.87

 
$
(0.86
)
 
$
(2.41
)
 



The following shares were excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive (in millions):
 
 
 
December 26, 2010
 
December 25, 2011
 
December 30, 2012
 
Shares from stock options and awards
 
1.2

 
2.1

 
3.6