Net Income (Loss) Per Common and Common Equivalent Share

3 Months Ended

Sep. 28, 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 or loss per common share is calculated by dividing net income or loss by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is calculated by dividing net income 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 option 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 EPS:

	Three Months Ended					Nine-Months Ended
	September 28,		September 29,			September 28,		September 29,
	2013		2012			2013		2012
Basic EPS Computation:
Numerator:
Net income (loss)	$	451,516	$	(530,945	)	$	690,628	$	(1,438,004	)
Denominator:
Weighted average
Common shares
Outstanding		13,198,506		12,871,659			13,010,591		12,868,934
Basic EPS	$	0.03	$	(0.04	)	$	0.05	$	(0.11	)
Diluted EPS Computation:
Numerator:
Net income (loss)	$	451,516	$	(530,945	)	$	690,628	$	(1,438,004	)
Denominator:
Weighted average
Common shares
Outstanding		13,198,506		12,871,659			13,010,591		12,868,934
Dilutive effect of stock options		323,989		—			231,478		—
Total Shares		13,522,495		12,871,659			13,242,069		12,868,934
Diluted EPS	$	0.03	$	(0.04	)	$	0.05	$	(0.11	)