Earnings Per Share

6 Months Ended

Jun. 30, 2015

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 diluted earnings per share:



	Fiscal Quarter Ended				Two Fiscal Quarters Ended
	June 30, 2015		July 1, 2014		June 30, 2015		July 1, 2014
Net income (in thousands):	$	3,062	$	3,527	$	310	$	4,951
Shares:
Basic weighted average shares outstanding	29,950,122		29,703,884		29,896,663		29,655,102
Dilutive stock options and warrants	769,980		1,359,890		895,615		1,406,620
Diluted weighted average number of shares outstanding	30,720,102		31,063,774		30,792,278		31,061,722
Earnings per share:
Basic EPS	$	0.10	$	0.12	$	0.01	$	0.17
Diluted EPS	$	0.10	$	0.11	$	0.01	$	0.16

In the second quarters of 2015 and 2014, there were 1,214,159 and 243,552 outstanding options, respectively, excluded from the diluted earnings per share calculation because they were anti-dilutive. In the first two quarters of 2015 and 2014, there were 809,711 and 243,552 outstanding options, respectively, excluded from the diluted earnings per share calculation because they were anti-dilutive.