OTE D – INCOME PER SHARE

Basic income per common share is calculated by dividing income by the weighted-average number of common shares outstanding and excludes any dilutive effect of stock options. Diluted income per common share gives effect to all potentially dilutive common shares that were outstanding during the period. Dilutive common shares used in the computation of diluted income per common share result from the assumed exercise of stock options and warrants, as determined using the treasury stock method.

The following chart provides a reconciliation of information used in calculating the per-share amounts for the

thirteen

and

thirty-nine

week periods ended

December 24, 2017

and

December 25, 2016,

respectively.

Thirteen weeks
										Net (Loss) Income
	Net (Loss) Income					Number of Shares				Per Share
	201 7			2016		201 7		2016		201 7			201 6
	(in thousands)					(in thousands)
Basic EPS
Basic calculation	$	(3,779	)	$	699		4,185		4,175	$	(0.90	)	$	0.17
Effect of dilutive employee stock options		-			-		-		34		-			-
Diluted EPS
Diluted calculation	$	(3,779	)	$	699		4,185		4,209	$	(0.90	)	$	0.17

T hirty - nine weeks
									Net Income
	Net Income				Number of Shares				Per Share
	201 7		2016		201 7		2016		201 7		201 6
	(in thousands)				(in thousands)
Basic EPS
Basic calculation	$	2,263	$	6,756		4,180		4,171	$	0.54	$	1.62
Effect of dilutive employee stock options		-		-		39		31		-		(0.01	)
Diluted EPS
Diluted calculation	$	2,263	$	6,756		4,219		4,202	$	0.54	$	1.61

options to purchase shares of common stock for the

thirty-nine

week periods ended

December 2

2017

and

December 25, 2016

or for the

thirteen

week period ended

December 25, 2016

were excluded from the computation of diluted earnings per share. For the

thirteen

week period ended

December 24, 2017,

47,000

options to purchase common stock were excluded from the computation of dilutive earnings per share as the effect would be anti-dilutive.