Note 3 - Earnings Per Share

9 Months Ended

Sep. 29, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 3 – EARNINGS PER SHARE

The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below.  Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings.

The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not distributed. The following tables show distributed and undistributed earnings:

	Three Months Ended					Nine Months Ended
	Sept. 29, 2013		Sept. 30, 2012			Sept. 29, 2013		Sept. 30, 2012
Earnings Per Share
Basic Earnings Per Share from Continuing Operations:
Distributed Earnings	$	0.03	$	0.03		$	0.08	$	0.07
Undistributed Earnings		0.20		0.14			0.42		0.17
Total	$	0.23	$	0.17		$	0.50	$	0.24
Diluted Earnings Per Share from Continuing Operations:
Distributed Earnings	$	0.03	$	0.03		$	0.08	$	0.07
Undistributed Earnings		0.20		0.14			0.42		0.17
Total	$	0.23	$	0.17		$	0.50	$	0.24
Earnings (Loss) Per Share
Continuing Operations	$	0.23	$	0.17		$	0.50	$	0.24
Discontinued Operations		0.00		(0.26	)		0.00		(0.26	)
Earnings (Loss) Per Share	$	0.23	$	(0.09	)	$	0.50	$	(0.02	)

The following tables present net income (loss) that was attributable to participating securities:

	Three Months Ended					Nine Months Ended
	Sept. 29, 2013		Sept. 30, 2012			Sept. 29, 2013		Sept. 30, 2012
			(In millions)
Net Income (Loss)	$	0.4	$	(0.2	)	$	0.9	$	(0.1	)

The weighted average shares outstanding for basic and diluted EPS were as follows:

	Three Months Ended				Nine Months Ended
	Sept. 29, 2013		Sept. 30, 2012		Sept. 29, 2013		Sept. 30, 2012
			(In thousands)
Weighted Average Shares Outstanding		64,446		63,983		64,423		63,729
Participating Securities		1,737		1,974		1,737		1,974
Shares for Basic Earnings Per Share		66,183		65,957		66,160		65,703
Dilutive Effect of Stock Options		134		172		129		99
Shares for Diluted Earnings Per Share		66,317		66,129		66,289		65,802

The following chart depicts options to purchase shares of common stock that were excluded from the calculation of diluted EPS as their inclusion would be anti-dilutive:

	Three Months Ended				Nine Months Ended
	Sept. 29, 2013		Sept. 30, 2012		Sept. 29, 2013		Sept. 30, 2012
			(In thousands)
Shares Excluded		0		83		0		264