Share Based Compensation

6 Months Ended

Jul. 02, 2011

Share Based Compensation

Share Based Compensation

7.  Share Based Compensation

Total share based compensation expense for the three and six month periods ended July 2, 2011 was approximately $0.1 million and $0.3 million, respectively. This includes compensation expense related to both stock options and stock awards. The tax benefit recorded for these same periods was approximately $19,000 and $32,000. The tax benefit is offset against our valuation allowance for our deferred tax asset.

Total share based compensation expense for the three- and six-month periods ended July 3, 2010 was approximately $0.1 million and $31,000, respectively. This includes compensation expense related to both stock options and stock awards. The tax benefit recorded for these same periods was approximately $4,000 and $6,000. The tax benefit is offset against our valuation allowance for our deferred tax asset.

No stock options were exercised during the periods ended July 2, 2011 and July 3, 2010. As of July 2, 2011, there was approximately $0.4 million of unrecognized share based compensation expense related to unvested stock options and awards that are expected to vest over a weighted-average period of 1.4 years. Options to purchase approximately 0.4 million and 0.5 million shares of common stock were outstanding at July 2, 2011 and July 3, 2010, respectively.

During the three and six month periods ended July 2, 2011 and July 3, 2010, we granted equity compensation awards as follows:

	Three Months Ended							Six Months Ended
	July 2, 2011			July 3, 2010				July 2, 2011			July 3, 2010
	Grants	Weighted- Average Grant Date Fair Value		Grants	Weighted- Average Grant Date Fair Value			Grants	Weighted- Average Grant Date Fair Value		Grants	Weighted- Average Grant Date Fair Value
Stock Options	—	$	—	—	$	—	Stock Options	110,050	$	2.74	86,800	$	1.73
Stock Awards	—	$	—	—	$	—	Stock Awards	102,450	$	4.40	1,200	$	3.36