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Earnings (Loss) Per Share
 6 Months Ended
Jun. 28, 2016
Earnings Per Share [Abstract]  
Loss Per Share
arnings (Loss) Per Share
Basic earnings per share (“EPS”) is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted EPS is calculated using net income (loss) 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 restricted common stock. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.
The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data):
 
 
Fiscal Quarter Ended
 
Two Fiscal Quarters Ended
 
 
June 28,
2016
 
June 30,
2015
 
June 28,
2016
 
June 30,
2015
Net (loss) income
 
$
(14,087
)
 
$
3,062

 
$
(16,460
)
 
$
310

Shares:
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
 
27,776,094

 
29,950,122

 
27,754,615

 
29,896,663

Effect of dilutive securities
 
—

 
769,980

 
—

 
895,615

Diluted weighted average shares outstanding
 
27,776,094

 
30,720,102

 
27,754,615

 
30,792,278

(Loss) earnings per share:
 
 
 
 
 
 
 
 
Basic (loss) earnings per share
 
$
(0.51
)
 
$
0.10

 
$
(0.59
)
 
$
0.01

Diluted (loss) earnings per share
 
$
(0.51
)
 
$
0.10

 
$
(0.59
)
 
$
0.01



The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. Potential common shares are excluded from the computation of diluted earnings (loss) per share when the effect would be anti-dilutive. All potential common shares are anti-dilutive in periods of net loss. The number of shares issuable on the exercise of share based awards excluded from the calculation of diluted earnings (loss) per share because the effect of their inclusion would have been anti-dilutive totaled 1,561,256 and 1,214,159 for the second quarters of 2016 and 2015, respectively, and totaled 1,559,515 and 809,711 for first two quarters of 2016 and 2015, respectively.