NET INCOME PER SHARE

6 Months Ended

May 29, 2011

Notes to Financial Statements [Abstract]

Earnings Per Share [Text Block]

NET INCOME/(LOSS) PER SHARE

Basic and diluted net income/(loss) per share are computed using the two-class method which allocates earnings to both Common Stock and participating securities. Under the two-class method, unvested restricted Common Stock with non-forfeitable rights to dividends are considered participating securities. Dividends from such participating securities are excluded from net income/(loss) allocated to Common Stock for purposes of the two-class method calculation.

Basic shares are computed on the basis of the weighted-average number of shares of Common Stock outstanding during the periods presented. Diluted shares are computed on the basis of the weighted-average number of shares of Common Stock outstanding plus the effect of outstanding stock options and restricted stock using the treasury stock method.  Total shares of 35,602 and 79,847 shares, related to stock options and restricted stock, are excluded from the below calculation for the quarter and six months ended May 29, 2011, respectively, as inclusion would be anti-dilutive. Total shares of 19,286 shares, related to stock options and restricted stock, are excluded from the below calculation for the quarter and six months ended May 30, 2010, respectively, as inclusion would be anti-dilutive.

Following is a reconciliation of net income/(loss) allocated to Common Stock, using the two-class method, and the weighted-average number of shares used in the computation of basic and diluted net income/(loss) per share allocated to Common Stock:

	Three Months Ended						Six Months Ended
(In thousands, except per share data)	May 29, 2011			May 30, 2010			May 29, 2011			May 30, 2010
Numerator for income/(loss) per share:
Net income/(loss)	$	989		$	9,549		$	(3,340	)	$	10,632
Less: income allocated to participating securities	(6		)	(45		)	(19		)	(50		)
Net income/(loss) allocated to Common Stock	983			9,504			(3,359		)	10,582
Denominator for basic income/(loss) per share:
Weighted-average shares outstanding, basic	9,056,284			9,205,970			9,127,807			9,191,676
Denominator for diluted income/(loss) per share:
Weighted-average shares outstanding, basic	9,056,284			9,205,970			9,127,807			9,191,676
Dilutive effect of stock options and restricted stock	9,923			12,264			—			17,453
Weighted-average shares outstanding, diluted	9,066,207			9,218,234			9,127,807			9,209,129
Net income/(loss) per share allocated to Common Stock
Basic	$	.11		$	1.03		$	(.37	)	$	1.15
Diluted	$	.11		$	1.03		$	(.37	)	$	1.15