Earnings Per Share

6 Months Ended

Jul. 01, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Earnings per share ("EPS") is calculated by dividing income available to common stockholders 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 stockholders 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				Two Fiscal Quarters Ended
	July 1, 2014		July 2, 2013		July 1, 2014		July 2, 2013
Net income (in thousands):	$	3,527	$	68	$	4,951	$	992
Shares:
Basic weighted average shares outstanding	29,703,884		23,509,781		29,655,102		23,374,383
Dilutive stock options and warrants	1,359,890		680,033		1,406,620		604,628
Diluted weighted average number of shares outstanding	31,063,774		24,189,814		31,061,722		23,979,011
Earnings per share:
Basic EPS	$	0.12	$	—	$	0.17	$	0.04
Diluted EPS	$	0.11	$	—	$	0.16	$	0.04

In the second quarters of 2014 and 2013, there were 243,552 and 357,261 outstanding options, respectively, excluded from the diluted earnings per share calculation because they were anti-dilutive. In the first two quarters of 2014 and 2013, there were 243,552 and 347,227 outstanding options, respectively, excluded from the diluted earnings per share calculation because they were anti-dilutive. All outstanding warrants are dilutive and were included in the calculation of diluted earnings per share.