Earnings Per Share

3 Months Ended

Apr. 01, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

EPS is calculated by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share ("diluted EPS") is calculated using income available to common shareholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options and warrants. The following table sets forth the computations of basic and dilutive earnings per share:

	Fiscal Quarter Ended
	April 1, 2014		April 2, 2013
Net income (in thousands):	$	1,424	$	924
Shares:
Basic weighted average shares outstanding	29,606,321		23,238,984
Dilutive stock options and warrants	1,453,003		433,316
Diluted weighted average number of shares outstanding	31,059,324		23,672,300
Earnings per share:
Basic EPS	$	0.05	$	0.04
Diluted EPS	$	0.05	$	0.04

In the first quarters of 2014 and 2013, there were 17,000 and 313,138 outstanding options, respectively, excluded from the diluted earnings per share calculation because their inclusion would be antidilutive. All outstanding warrants are dilutive and were included in the calculation of diluted earnings per share.