Net Income (Loss) Per Common and Common Equivalent Share

6 Months Ended

Jun. 29, 2013

Earnings Per Share [Abstract]

Net Income (Loss) Per Common and Common Equivalent Share

(3) Net Income (Loss) Per Common and Common Equivalent Share

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income (loss) by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights. Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive.

The following table presents the calculation of both basic and diluted earnings per share (“EPS”):

	Three Months Ended					Six Months Ended
	June 29,		June 30,			June 29,		June 30,
	2013		2012			2013		2012
Basic EPS Computation:
Numerator:
Net income (loss)	$	236,502	$	(372,724	)	$	239,112	$	(907,059	)
Denominator:
Weighted average
Common shares
Outstanding		12,961,506		12,869,483			12,916,633		12,867,571
Basic EPS	$	0.02	$	(0.03	)	$	0.02	$	(0.07	)
Diluted EPS Computation:
Numerator:
Net income (loss)	$	236,502	$	(372,724	)	$	239,112	$	(907,059	)
Denominator:
Weighted average
Common shares
Outstanding		12,961,506		12,869,483			12,916,633		12,867,571
Dilutive effect of stock options		129,578		—			185,222		—
Total Shares		13,091,084		12,869,483			13,101,855		12,867,571
Diluted EPS	$	0.02	$	(0.03	)	$	0.02	$	(0.07	)