Income (Loss) Per Share

9 Months Ended

Mar. 30, 2013

Income (Loss) Per Share [Abstract]

INCOME (LOSS) PER SHARE

3. INCOME (LOSS) PER SHARE

Basic income (loss) per share is based upon the weighted average number of common shares outstanding. Diluted income (loss) per share reflects the additional potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.

Basic and diluted loss per share for the three and nine month periods ended March 30, 2013 and March 31, 2012 are computed as follows:

	Three Months Ended						Nine Months Ended
(in thousands, except per share data)	March 30, 2013			March 31, 2012			March 30, 2013			March 31, 2012
Net loss	$	(681	)	$	(267	)	$	(4,828	)	$	(157	)
Computation of common shares outstanding – basic loss per share:
Weighted average shares of common stock		23,162			24,030			23,407			24,255
Basic loss per share	$	(0.03	)	$	(0.01	)	$	(0.21	)	$	(0.01	)
Computation of common shares outstanding – diluted loss per share:
Weighted average shares of common stock		23,162			24,030			23,407			24,255
Dilutive shares using the treasury stock method		-			-			-			-
Shares used in computing diluted loss per share		23,162			24,030			23,407			24,255
Diluted loss per share	$	(0.03	)	$	(0.01	)	$	(0.21	)	$	(0.01	)

Options to purchase 2,465,000 and 2,497,000 shares of common stock, and restricted stock units of 562,000 and 596,000 were outstanding during the three and nine months ended March 30, 2013 respectively, but not included in the computation of diluted earnings per share because the options and units would be anti-dilutive under the treasury stock method. Options to purchase 2,611,000 and 2,724,000 shares of common stock, and restricted stock units of 518,000 and 548,000 were outstanding during the three and nine months ended March 31, 2012 respectively, but not included in the computation of diluted earnings per share because the options and units would be anti-dilutive under the treasury stock method. As the Company incurred a net loss for the three and nine months ended March 30, 2013 and March 31, 2012, diluted loss per share is the same as basic loss per share since the addition of any contingently issuable shares would be anti-dilutive.