BASIC AND DILUTED EARNINGS PER SHARE

6 Months Ended

Jun. 28, 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:

	26-Weeks Ended						13-Weeks Ended
	June 28,			June 29,			June 28,			June 29,
	2014			2013			2014			2013
Net loss	$	(18,731,000	)	$	(19,433,000	)	$	(7,924,000	)	$	(1,606,000	)
Basic weighted number of average shares outstanding	22,604,000			15,769,000			24,078,000			18,378,000
Incremental shares from assumed issuances of stock options and restricted stock awards	—			—			—			—
Diluted weighted average number of shares outstanding	22,604,000			15,769,000			24,078,000			18,378,000
Net loss per share - Basic	$	(0.83	)	$	(1.23	)	$	(0.33	)	$	(0.09	)
- Diluted	$	(0.83	)	$	(1.23	)	$	(0.33	)	$	(0.09	)

Options and unvested restricted common shares totaling 1,657,666 and 1,696,383 shares were excluded from the computation of diluted loss per share for the 26- and 13-week periods ended June 28, 2014 and June 29, 2013, respectively, due to the net loss incurred by the Company.