Earnings Per Share

3 Months Ended

Apr. 01, 2013

Earnings Per Share

Earnings Per Share

Note 3 — Earnings Per Share

Basic and diluted loss per common share is calculated by dividing the net loss by the weighted average common shares outstanding during the period. As of April 1, 2013, there were, 282,075 unvested restricted shares of common stock and 25,000 in-the-money and 38,196 out-of-the-money stock options outstanding. As of April 2, 2012, there were 301,987 unvested restricted shares of common stock and 40,427 out-of-the-money stock options outstanding. There were no in-the-money stock options at the end of first quarter of fiscal 2012. The unvested restricted shares and the outstanding stock options meet the requirements for participating securities but were not included in the computation of basic and diluted earnings per share because we incurred a net loss in all periods presented and, hence, the impact would be anti-dilutive.