EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 16. EARNINGS PER SHARE

        The following table sets forth the computations of basic and diluted earnings per share:

	52 Weeks Ended		52 Weeks Ended			53 Weeks Ended
	December 31, 2011		January 1, 2011			January 2, 2010
Net income (loss)	$	2,081,000	$	(22,432,000	)	$	(8,694,000	)
Net income (loss) per share—basic	$	0.16	$	(1.76	)	$	(0.68	)
Net income(loss) per share—diluted	$	0.16	$	(1.76	)	$	(0.68	)
Weighted average common shares outstanding		12,838,000		12,779,000			12,795,000
Dilutive effect of stock options and restrictive stock awards		46,000		—			—
Weighted average common and potentially dilutive common shares		12,884,000		12,779,000			12,795,000

        Diluted weighted average shares for fiscal 2011 include 4,174 due to the potential exercise of stock options that were outstanding and exercisable during the year. Options to purchase 736,675 common shares were excluded from the computation of diluted earnings per share for fiscal 2011 due to the anti-dilutive effect caused by the exercise price exceeding the average market price. Unvested restricted common shares of 456,663 were excluded from the computation of diluted earnings per share for fiscal 2011 due to contingent restricted shares not meeting their performance goals. Options and unvested restricted common shares of 1,062,330 and 893,336 were excluded from the computation of diluted earnings per share for fiscal 2010 and, 2009, respectively, because of the net loss incurred by the Company.