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Earnings Per Share
 9 Months Ended
Sep. 29, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Earnings per share ("EPS") is calculated by dividing (loss) income available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted (loss) earnings per share ("diluted EPS") is calculated using (loss) 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 (loss) earnings per share:
 
 
Fiscal Quarter Ended
 
Three Fiscal Quarters Ended
 
 
September 29,
2015
 
September 30,
2014
 
September 29,
2015
 
September 30,
2014
Net (loss) income (in thousands):
 
$
(9,821
)
 
$
2,943

 
$
(9,511
)
 
$
7,894

Shares:
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
 
28,253,859

 
29,757,820

 
29,349,061

 
29,689,342

Dilutive stock options and warrants
 
—

 
1,136,084

 
—

 
1,353,101

Diluted weighted average number of shares outstanding
 
28,253,859

 
30,893,904

 
29,349,061

 
31,042,443

(Loss) earnings per share:
 
 
 
 
 
 
 
 
Basic (loss) EPS
 
$
(0.35
)
 
$
0.10

 
$
(0.32
)
 
$
0.27

Diluted (loss) EPS
 
$
(0.35
)
 
$
0.10

 
$
(0.32
)
 
$
0.25


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 third quarters of 2015 and 2014, there were 2,837,962 and 267,196 outstanding options, respectively, excluded from the diluted (loss) earnings per share calculation because they were anti-dilutive. In the first three quarters of 2015 and 2014, there were 2,837,962 and 243,552 outstanding options, respectively, excluded from the diluted (loss) earnings per share calculation because they were anti-dilutive. Additionally, approximately 10,000 and 15,000 outstanding warrants were anti-dilutive and were excluded in the calculation of diluted (loss) earnings per share during the third quarter of 2015 and the first three quarters of 2015, respectively.