Earnings per Share (EPS)

12 Months Ended

Jun. 29, 2014

Earnings per Share (EPS)

Earnings per Share (EPS)

NOTE K - EARNINGS PER SHARE:

The Company computes and presents earnings per share (“EPS”) in accordance with the authoritative guidance on Earnings Per Share.  Basic EPS excludes the effect of potentially dilutive securities while diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised, converted or resulted in the issuance of common stock that then shared in the earnings of the entity.

The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts).

	Year Ended
	June 29,			June 30,
	2014			2013
Loss from continuing operations	$	(1,454	)	$	(1,079	)
Discontinued operations		(113	)		(182	)
Net loss available to common stockholders	$	(1,567	)	$	(1,261	)
BASIC:
Weighted average common shares		8,635			8,031
Loss from continuing operations per common share	$	(0.17	)	$	(0.13	)
Discontinued operations per common share		(0.01	)		(0.03	)
Net loss per common share	$	(0.18	)	$	(0.16	)
DILUTED:
Weighted average common shares		8,635			8,031
Stock options		538			279
Weighted average common shares outstanding		9,173			8,310
Loss from continuing operations per common share	$	(0.16	)	$	(0.13	)
Discontinued operations per common share		(0.01	)		(0.02	)
Net loss per common share	$	(0.17	)	$	(0.15	)

At June 29, 2014, options to purchase 75,000 shares of common stock at an exercise price of $5.51 were not included in the computation of diluted EPS because the options’ exercise price was greater than the average market price of the common shares during the year.