Earnings per Share

3 Months Ended

Mar. 30, 2013

Earnings per Share [Abstract]

Earnings per Share

3.        Earnings per Share

Basic and diluted earnings per share are calculated as follows:

	Three Months Ended
	March 30,			March 31,
(In thousands, except per share amounts)	2013			2012
Amounts Attributable to Kadant:
Income from Continuing Operations	$	5,313		$	7,114
Loss from Discontinued Operation		(29	)		(61	)
Net Income	$	5,284		$	7,053
Basic Weighted Average Shares		11,163			11,653
Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan		104			76
Diluted Weighted Average Shares		11,267			11,729
Basic Earnings per Share:
Continuing Operations	$	0.48		$	0.61
Discontinued Operation	$	–		$	(0.01	)
Net Income per Basic Share	$	0.47		$	0.61
Diluted Earnings per Share:
Continuing Operations	$	0.47		$	0.61
Discontinued Operation	$	–		$	(0.01	)
Net Income per Diluted Share	$	0.47		$	0.60

Options to purchase approximately 111,000 and 107,000 shares of the Company's common stock for the first quarters of 2013 and 2012, respectively, were not included in the computation of diluted earnings per share because the options' exercise prices were greater than the average market price for the common stock during the period and the effect of their inclusion would have been anti-dilutive. Unvested restricted stock units equivalent to approximately 81,000 and 112,000 shares of common stock for the first quarters of 2013 and 2012, respectively, were not included in the computation of diluted earnings per share because either the effect of their inclusion would have been anti-dilutive, or for unvested performance-based restricted stock units, the performance conditions had not been met as of the end of the reporting period.