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Earnings Per Share
 6 Months Ended
Jun. 29, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE K – Earnings Per Share

Basic per share amounts are calculated using the weighted average number of common shares outstanding as the denominator and net earnings as the numerator. Diluted per share amounts are calculated by adding all potentially dilutive shares to the weighted average number of common shares outstanding for the numerator. Anti-dilutive shares are excluded from the computation of diluted earnings per share.

Earnings per share were computed as follows (in thousands, except per share amounts):

 

     Three Months Ended     Six Months Ended  
     June 29, 2014      June 30, 2013     June 29, 2014      June 30, 2013  

Weighted average shares:

           

Weighted average common shares outstanding

      33,741         33,589        33,725         33,556   

Effect of dilutive securities outstanding

      467         —          519         —     
  

 

 

     

 

 

    

 

 

     

 

 

  

Diluted weighted average shares outstanding (1)

      34,208         33,589        34,244         33,556   
  

 

 

     

 

 

    

 

 

     

 

 

  

Earnings (loss):

           

Income (loss) from continuing operations

    $ 6,361       $ (10,253 )    $ 11,441       $ (7,266 ) 

Income (loss) from discontinued operations

      0         (1,082 )      0         (501 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Net income

    $ 6,361       $ (11,335 )    $ 11,441       $ (7,767 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Basic per share amounts:

           

Income from continuing operations

    $ 0.19       $ (0.31 )    $ 0.34       $ (0.22 ) 

Income from discontinued operations

      0.00         (0.03 )      0.00         (0.01 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Net income per share basic

    $ 0.19       $ (0.34 )    $ 0.34       $ (0.23 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Diluted per share amounts:

           

Income from continuing operations

    $ 0.19       $ (0.31 )    $ 0.33       $ (0.22 ) 

Income from discontinued operations

      0.00         (0.03 )      0.00         (0.01 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Net income per share diluted

    $ 0.19       $ (0.34 )    $ 0.33       $ (0.23 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

 

(1) Basic shares are used for dilutive calculation in 2013 due to the net loss

 

The following table shows the potentially dilutive securities which have been excluded from the dilutive earnings per share calculation because they are either anti-dilutive, or the exercise price exceeds the average market price.

 

     Three Months Ended      Six Months Ended  
     June 29, 2014      June 30, 2013      June 29, 2014      June 30, 2013  

Potentially dilutive shares

      —           1,384,000         —           1,384,000