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Earnings Per Share
9 Months Ended
Oct. 01, 2011
Earnings Per Share [Text Block]

 

 

Note 6: Earnings Per Share

 

 

Basic earnings per common share has been computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share for all periods presented in the accompanying statement of operations was computed by dividing net income by the weighted average number of common shares outstanding and common stock equivalents, which include options outstanding during the same period. Not included in the calculation for each period were 41,000 and 51,000 non-qualified options, respectively, granted to directors, that were antidilutive because the average market price of our common stock for the thirteen and thirty-nine week periods ended October 1, 2011 and October 2, 2010, respectively, was less than the exercise price of any of these options.

 

 

 

The following table sets forth the computation of basic and diluted earnings (loss) per share:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen
Weeks
Ended
October 1, 2011

 

Thirteen
Weeks
Ended
October 2, 2010

 

Thirty-nine
Weeks
Ended
October 1, 2011

 

Thirty-nine
Weeks
Ended
October 2, 2010

 

 

 


 


 


 


 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)-basic and diluted

 

$

34

 

$

212

 

$

52

 

$

445

 

 

 



 



 



 



 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic and diluted earnings per share weighted average shares

 

 

5,177

 

 

5,177

 

 

5,177

 

 

5,177

 

 

 



 



 



 



 

Earnings (loss) per common share basic and diluted

 

$

0.01

 

$

0.04

 

$

0.01

 

$

0.09