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Consolidated Condensed Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 26, 2020
Sep. 28, 2019
NET SALES $ 85,920 $ 95,447 $ 227,321 $ 284,448
Cost of sales 63,679 74,373 173,843 220,962
GROSS PROFIT 22,241 21,074 53,478 63,486
Selling and administrative expenses 19,335 21,036 56,254 63,810
Other operating (income) expense, net (172) 37 (163) 145
Facility consolidation and severance expenses, net 515 1,043 1,785 4,859
Impairment of assets 0 0 0 3
OPERATING INCOME (LOSS) 2,563 (1,042) (4,398) (5,331)
Interest expense 1,561 1,648 4,204 5,085
Other expense (income), net 92 (4) 85 (42)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES 910 (2,686) (8,687) (10,374)
Income tax provision (benefit) 4 (109) 0 25
INCOME (LOSS) FROM CONTINUING OPERATIONS 906 (2,577) (8,687) (10,399)
Income (loss) from discontinued operations, net of tax (46) 23 (203) (43)
NET INCOME (LOSS) $ 860 $ (2,554) $ (8,890) $ (10,442)
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.06 $ (0.16) $ (0.57) $ (0.66)
Discontinued operations (0.00) (0.00) (0.01) 0.00
Net income (loss) $ 0.06 $ (0.16) $ (0.58) $ (0.66)
BASIC SHARES OUTSTANDING [1] 15,334 15,899 15,340 15,864
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.06 $ (0.16) $ (0.57) $ (0.66)
Discontinued operations (0.00) (0.00) (0.01) 0.00
Net income (loss) $ 0.06 $ (0.16) $ (0.58) $ (0.66)
DILUTED SHARES OUTSTANDING [1],[2] 15,454 15,899 15,340 15,864
DIVIDENDS PER SHARE:        
Common Stock $ 0 $ 0 $ 0 $ 0
Class B Common Stock $ 0 $ 0 $ 0 $ 0
[1] Includes Common and Class B Common shares, excluding unvested participating securities of 480 thousand as of September 26, 2020 and 461 thousand as of September 28, 2019.
[2] Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded for the three and nine months ended September 26, 2020 were 166 thousand and 296 thousand, respectively, and for the three and nine months ended September 28, 2019 were 364 thousand.