5. Earnings per Share

Basic earnings per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. For diluted earnings per common share, the denominator also includes the dilutive effect of outstanding restricted stock units and stock options determined using the treasury stock method. Dilutive effects of contingently issuable shares are included in the weighted average dilutive share calculation when the contingencies have been resolved. For periods in which net losses are generated, the dilutive potential common shares are excluded from the calculation of diluted earnings per share as the effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,		October 2,		September 30,		October 2,
	2016		2015		2016		2015
Numerators:
Income from continuing operations	$	7,470	$	6,568	$	14,247	$	29,525
Loss from discontinued operations		—		—		—		(13	)
Consolidated net income	$	7,470	$	6,568	$	14,247	$	29,512

Denominators:
Weighted average common shares outstanding— basic		34,677		34,599		34,689		34,578
Dilutive potential common shares		251		456		200		449
Weighted average common shares outstanding— diluted		34,928		35,055		34,889		35,027
Antidilutive common shares excluded from above		144		—		112		—

Basic Earnings (Loss) per Common Share:
From continuing operations	$	0.22	$	0.19	$	0.41	$	0.85
From discontinued operations	$	—	$	—	$	—	$	(0.00	)
Basic earnings per share	$	0.22	$	0.19	$	0.41	$	0.85

Diluted Earnings (Loss) per Common Share:
From continuing operations	$	0.21	$	0.19	$	0.41	$	0.84
From discontinued operations	$	—	$	—	$	—	$	(0.00	)
Diluted earnings per share	$	0.21	$	0.19	$	0.41	$	0.84

Common Stock Repurchases

In October 2013, the Company’s Board of Directors authorized a share repurchase plan under which the Company may repurchase outstanding shares of the Company’s common stock up to an aggregate amount of $10.0 million. The shares may be repurchased from time to time, at the Company’s discretion, based on ongoing assessment of the capital needs of the business, the market price of the Company’s common stock, and general market conditions. Shares may also be repurchased through an accelerated stock purchase agreement, on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. Repurchases may be made under certain SEC regulations, which would permit common stock to be purchased when the Company would otherwise be prohibited from doing so under insider trading laws. The share repurchase plan does not obligate the Company to acquire any particular amount of common stock. No time limit was set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time. As of December 31, 2015, the Company had repurchased an aggregate of 172 thousand shares for an aggregate purchase price of $2.2 million at an average price of $12.48 per share. During the nine months ended September 30, 2016, the Company repurchased 109 thousand shares in the open market for an aggregate purchase price of $1.6 million at an average price of $14.93 per share.