Earnings Per Share

9 Months Ended

Sep. 25, 2011

Note 7. EARNINGS PER SHARE

The following data shows the amounts used in computing earnings per share and the effect on net earnings from continuing operations and the weighted-average number of shares of dilutive potential common stock:


(amounts in thousands, except per share data)	Quarter (13 weeks) Ended		Nine Months (39 weeks) Ended
	September 25, 2011	September 26, 2010	September 25, 2011	September 26, 2010

Basic (loss) earnings attributable to Checkpoint Systems, Inc. available to common stockholders	$ (49,259)	$ 7,081	$ (49,050)	$ 19,627

Diluted (loss) earnings attributable to Checkpoint Systems, Inc. available to common stockholders	$ (49,259)	$ 7,081	$ (49,050)	$ 19,627

Shares:
Weighted-average number of common shares outstanding	40,134	39,571	40,038	39,411
Shares issuable under deferred compensation agreements	471	478	455	449
Basic weighted-average number of common shares outstanding	40,605	40,049	40,493	39,860
Common shares assumed upon exercise of stock options and awards	—	445	—	499
Shares issuable under deferred compensation arrangements	—	5	—	7
Dilutive weighted-average number of common shares outstanding	40,605	40,499	40,493	40,366

Basic (loss) earnings attributable to Checkpoint Systems, Inc. per share	$ (1.21)	$ .18	$ (1.21)	$ .49
Diluted (loss) earnings attributable to Checkpoint Systems, Inc. per share	(1.21)	.17	(1.21)	.49

Anti-dilutive potential common shares are not included in our earnings per share calculation. The Long-term Incentive Plan restricted stock units were excluded from our calculation due to the performance of vesting criteria not being met.

The number of anti-dilutive common share equivalents for the three and nine month periods ended September 25, 2011 and September 26, 2010 were as follows:


(amounts in thousands)	Quarter (13 weeks) Ended		Nine Months (39 weeks) Ended
	September 25, 2011	September 26, 2010	September 25, 2011	September 26, 2010
Weighted-average common share equivalents associated with anti-dilutive stock options and restricted stock units excluded from the computation of diluted EPS(1)	2,601	1,681	2,250	1,566

(1)

Adjustments for stock options and awards of 227 shares & 384 shares and deferred compensation arrangements of 6 shares & 5 shares were anti-dilutive in three and nine months ended September 25, 2011, respectively and therefore are excluded from the earnings per share calculation due to our net loss for the quarter and year.