EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 26, 2014

EARNINGS (LOSS) PER SHARE [Abstract]

EARNINGS (LOSS) PER SHARE

Note 4.EARNINGS (LOSS) PER SHARE

The consolidated financial statements include basic and diluted earnings (loss) per share. Diluted per share information is calculated by considering the impact of potential common stock on the weighted average shares outstanding. Potential common stock consists of (a) incremental shares that would be available for issuance upon the assumed exercise of stock options “in the money” based on the average stock price for the respective period and (b) convertible preferred shares, owned by Kohlberg & Co. LLC (see Note 9), accounted for using the “if converted” basis, which assumes their conversion to common stock at a ratio of 16.6:1. The basic and diluted earnings per share (“EPS”) calculations are as follows:

	Three Months Ended					Nine Months Ended
	September 26,		September 27,			September 26,		September 27,
	2014		2013			2014		2013
Income (loss) from continuing operations	$	1,350	$	185		$	3,058	$	(892	)
(Loss) income from Discontinued operations		-		(14	)		-		373
Net income (loss)	$	1,350	$	171		$	3,058	$	(519	)
Average common shares outstanding - Basic		7,951		7,951			7,951		7,951
Dilutive effect of convertible preferred stock		18,859		18,859			18,859		-
Average common shares outstanding - Diluted		26,810		26,810			26,810		7,951
Per share amount - Basic:
Income (Loss) from continuing operations	$	0.17	$	0.02		$	0.38	$	(0.11	)
Discontinued operations		-		-			-		0.05
Net income (loss)	$	0.17	$	0.02		$	0.38	$	(0.06	)
Per share amount - Diluted:
Income (Loss) from continuing operations	$	0.05	$	0.01		$	0.11	$	(0.11	)
Discontinued operations		-		(0.01	)		-		0.05
Net income (loss)	$	0.05	$	(0.00	)	$	0.11	$	(0.06	)