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Consolidated Condensed Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Sep. 26, 2015
Sep. 27, 2014
NET SALES $ 108,908 $ 109,006 $ 314,721 $ 302,014
Cost of sales 81,643 82,407 234,811 230,643
GROSS PROFIT 27,265 26,599 79,910 71,371
Selling and administrative expenses 25,267 23,801 76,215 68,179
Other operating expense, net 131 230 684 601
Facility consolidation expenses 614 1,632 2,264 2,654
Impairment of assets 0 104 0 [1] 759
OPERATING INCOME (LOSS) 1,253 832 747 (822)
Interest expense 1,203 991 3,603 3,161
Other (income) expense, net 4 (23) 45 (60)
Gain on purchase of business 0 (173) 0 (11,110)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES 46 37 (2,901) 7,187
Income tax provision (benefit) (38) 45 (1,121) 2,884
INCOME (LOSS) FROM CONTINUING OPERATIONS 84 (8) (1,780) 4,303
Loss from discontinued operations, net of tax (18) (177) (118) (505)
NET INCOME (LOSS) $ 66 $ (185) $ (1,898) $ 3,798
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.01 $ 0.00 $ (0.11) $ 0.29
Discontinued operations 0.00 (0.01) (0.01) (0.04)
Net income (loss) $ 0.01 $ (0.01) $ (0.12) $ 0.25
BASIC SHARES OUTSTANDING [2] 15,573 15,394 15,518 14,040
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.01 $ 0.00 $ (0.11) $ 0.29
Discontinued operations 0.00 (0.01) (0.01) (0.04)
Net income (loss) $ 0.01 $ (0.01) $ (0.12) $ 0.25
DILUTED SHARES OUTSTANDING [2],[3] 15,666 15,394 15,518 14,216
DIVIDENDS PER SHARE:        
Common Stock $ 0.00 $ 0.00 $ 0.00 $ 0.00
Class B Common Stock $ 0.00 $ 0.00 $ 0.00 $ 0.00
[1] Asset impairments under these plans, when applicable, are classified as "loss on impairments" in the Company's Consolidated Condensed Statements of Operations.
[2] Includes Common and Class B Common shares, in thousands.
[3] Because their effects are anti-dilutive, shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded. Aggregate shares excluded for the three and nine months ended September 26, 2015 were 220 and 308, respectively, and for the three and nine months ending September 27, 2014 were 552 and 432, respectively.