Stockholders Equity

6 Months Ended

Jul. 02, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

6. Stockholders’ Equity

Basic earnings per common share are based upon the weighted average shares outstanding. Outstanding stock options are treated as potential common stock for purposes of computing diluted earnings per share. Basic and diluted earnings per share are calculated using the following share data:

	Three Months				Six Months
	Ended				Ended
	July 2,		July 3,		July 2,		July 3,
	2011		2010		2011		2010
Weighted average shares outstanding for basic calculation		14,345		10,345		14,345		10,339
Add: Effect of dilutive stock options
Weighted average shares outstanding Adjusted for diluted calculation		14,345		10,345		14,345		10,339

In the 2011 and 2010 second quarter and first half periods, the dilutive effect of outstanding stock options is not recognized since we have a net operating loss for all periods. Approximately 1.4 million shares in 2011 and 1.6 million shares in 2010 are issuable upon the exercise of stock options, which were not included in the diluted per share calculation because they were anti-dilutive.

A reconciliation of the activity in Stockholders’ Equity accounts for the first half of 2011 is as follows:

									Accumulated
			Capital in						Other
	Common		Excess of			Retained			Comprehensive
	Stock		Par Value			Earnings			Loss
Balance, December 31, 2010	$	287	$	14,433		$	47,062		$	13
Net loss							(4,524	)
Fees related to issuance of stock				(40	)
Stock-based compensation				193
Adjustment to net periodic benefit cost										(68	)
Balance, July 2, 2011	$	287	$	14,586		$	42,538		$	(55	)

The components of other comprehensive loss are as follows:

	Three Months Ended						Six Months Ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Net loss	$	(595	)	$	(11,459	)	$	(4,524	)	$	(30,532	)
Adjustment to net periodic benefit cost		(34	)		(13	)		(68	)		(26	)
Comprehensive loss	$	(629	)	$	(11,472	)	$	(4,592	)	$	(30,558	)