Earnings Per Share

9 Months Ended

Oct. 01, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

EPS is calculated by dividing income available to common shareholders 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 shareholders 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				Three Fiscal Quarters Ended
	October 1, 2013		October 2, 2012		October 1, 2013		October 2, 2012
Net income (in thousands):	$	3,265	$	133	$	4,257	$	3,604
Shares:
Basic weighted average shares outstanding	29,399,650		23,238,984		25,382,805		23,238,984
Dilutive stock options and warrants	1,663,563		149,745		1,145,199		11,761
Diluted weighted average number of shares outstanding	31,063,213		23,388,729		26,528,004		23,250,745
Earnings per share:
Basic EPS	$	0.11	$	0.01	$	0.17	$	0.16
Diluted EPS	$	0.11	$	0.01	$	0.16	$	0.16

In the third quarter of 2013 and 2012 and in the first three quarters of 2013 and 2012, zero and 172,831, and 488,018 and 2,552,951 outstanding options, respectively, were excluded from the diluted earnings per share calculation because their inclusion would be antidilutive. All outstanding warrants are dilutive and were included in the calculation of diluted earnings per share.