Earnings Per Share

9 Months Ended

Oct. 01, 2011

Note 9 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share) :

	Fiscal quarter ended				Nine fiscal months ended
	October 1,		October 2,		October 1,		October 2,
	2011		2010		2011		2010
Numerator:
Numerator for basic earnings per share:
Net earnings attributable to VPG
stockholders/parent	$	3,300	$	2,619	$	9,576	$	8,430

Adjustment to the numerator for net earnings:
Interest savings assuming conversion of
dilutive exchangeable notes, net of tax		4		9		14		9

Numerator for diluted earnings per share:
Net earnings attributable to VPG
stockholders/parent	$	3,304	$	2,628	$	9,590	$	8,439

Denominator:
Denominator for basic earnings per share:
Weighted average shares		13,346		13,332		13,342		13,332

Effect of dilutive securities:
Exchangeable notes		441		441		441		441
Employee stock options		1		1		1		1
Restricted stock units		43		5		36		5
Dilutive potential common shares		485		447		478		447

Denominator for diluted earnings per share:
Adjusted weighted average shares		13,831		13,779		13,820		13,779

Basic earnings per share attributable to VPG
stockholders/parent	$	0.25	$	0.20	$	0.72	$	0.63

Diluted earnings per share attributable to VPG
stockholders/parent	$	0.24	$	0.19	$	0.69	$	0.61

Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares, as the effect would be antidilutive (in thousands) :

	Fiscal quarter ended		Nine fiscal months ended
	October 1,	October 2,	October 1,	October 2,
	2011	2010	2011	2010
Exchangeable notes:
Exchangeable Unsecured Notes, due 2102	-	-	-	-
Weighted average employee stock options	18	18	18	18
Weighted average warrants	630	630	630	630
Weighted average other	-	19	-	19