EARNINGS PER SHARE

6 Months Ended

Jun. 11, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

3. EARNINGS PER SHARE

Basic earnings per share (“EPS”) data is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS data is computed based on the weighted average number of shares of common stock outstanding, including all potentially issuable shares of common stock. Diluted EPS for the 12 and 24 weeks ended June 11, 2013 excludes options to purchase 125,279 and 818,053 shares of common stock, respectively, which were outstanding during the periods, but were antidilutive. At June 12, 2012, there were no outstanding stock options or other dilutive securities and therefore they were not included in the dilutive calculation.

(dollars in thousands, except per share data)

	12 Weeks Ended					24 Weeks Ended
	June 11,		June 12,			June 11,		June 12,
	2013		2012			2013		2012
Income from continuing operations	$	4,431	$	3,628		$	8,000	$	8,528
Discontinued operations, net of income tax benefit		—		(2	)		—		84
Net income	$	4,431	$	3,626		$	8,000	$	8,612
Shares:
Weighted average number of common shares outstanding		23,794,667		17,994,667			23,794,667		17,994,667
Dilutive shares		31,955		—			202		—
Total Diluted Shares		23,826,622		17,994,667			23,794,869		17,994,667
Basic income per common share:
Continuing operations	$	0.19	$	0.20		$	0.34	$	0.47
Discontinued operations		0.00		0.00			0.00		0.01
Basic income per share	$	0.19	$	0.20		$	0.34	$	0.48
Diluted income per common share:
Continuing operations	$	0.19	$	0.20		$	0.34	$	0.47
Discontinued operations		0.00		0.00			0.00		0.01
Diluted income per share	$	0.19	$	0.20		$	0.34	$	0.48