Earnings Per Share

3 Months Ended

Mar. 31, 2015

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.

8. Earnings Per Share (continued)

The following table sets forth the computations of basic and diluted earnings per share:

	Fiscal Quarter Ended
	March 31, 2015			April 1, 2014
Net (loss) income (in thousands):	$	(2,752	)	$	1,424
Shares:
Basic weighted average shares outstanding	29,843,204			29,606,321
Dilutive stock options and warrants	—			1,453,003
Diluted weighted average number of shares outstanding	29,843,204			31,059,324
Earnings per share:
Basic EPS	$	(0.09	)	$	0.05
Diluted EPS	$	(0.09	)	$	0.05

Potential common shares are excluded from the computation of diluted (loss) earnings per share when the effect would be anti-dilutive. All potential common shares are anti-dilutive in periods of net loss. In the first quarters of 2015 and 2014, there were 3,225,078 and 17,000 outstanding options, respectively, excluded from the diluted earnings per share calculation because they were anti-dilutive. Additionally, 18,000 outstanding warrants were anti-dilutive and were excluded in the calculation of diluted earnings per share for the first quarter of 2015.