BASIC AND DILUTED EARNINGS PER SHARE

3 Months Ended

Mar. 29, 2014

BASIC AND DILUTED EARNINGS PER SHARE

BASIC AND DILUTED EARNINGS PER SHARE

3. BASIC AND DILUTED EARNINGS PER SHARE

Basic loss per share has been computed based upon the weighted average of common shares outstanding. Diluted loss per share also includes the dilutive effect of potential common shares (dilutive stock options and unvested restricted stock awards) outstanding during the period. Loss per common share has been computed as follows:

	13 Weeks Ended
				As adjusted
	March 29, 2014			March 30, 2013
				See Note 1
Net loss	$	(10,807,000	)	$	(17,827,000	)
Basic weighted number of average shares outstanding	21,130,000			13,405,000
Incremental shares from assumed issuances of stock options and restricted stock awards	—			—
Diluted weighted average number of shares outstanding	21,130,000			13,405,000
Net loss per share - Basic	$	(0.51	)	$	(1.33	)
- Diluted	$	(0.51	)	$	(1.33	)

Options and unvested restricted common shares totaling 1,513,167 and 1,295,675 shares were excluded from the computation of diluted loss per share for the 13-week periods ended March 29, 2014 and March 30, 2013, respectively, due to the net loss incurred by the Company.