Stockholders' Equity

3 Months Ended

Mar. 30, 2013

Stockholders' Equity Note Disclosure [Text Block]

5.         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 Ended
	March 30,	March 31,
	2013	2012
Weighted average shares outstanding for basic calculation	14,162	14,345
Add: Effect of dilutive stock options
Weighted average shares outstanding,adjusted for diluted calculation	14,162	14,345

In the 2013 and 2012 first quarter periods, the dilutive effect of stock options is not recognized since we have a net loss.  Approximately 2.1 million shares in 2013 and 1.8 million shares in 2012 are issuable upon the exercise of stock options, which were not included in the diluted per share calculation because they were anti-dilutive.  Also, 367,000 shares in 2013 and 179,000 shares in 2012 of restricted stock were not included because they were anti-dilutive.

A reconciliation of the activity in Stockholders’ Equity accounts for the quarter ended March 30, 2013 is as follows:

				Accumulated
		Capital in		Other
	Common	Excess of	Retained	Comprehensive
	Stock	Par Value	Earnings	Loss
Balance, December 31, 2012	$ 284	$ 15,018	$ 72,421	$ (484)
Net loss			(2,094)
Stock repurchased	(2)	(351)
Stock-based compensation		247
Adjustment to net periodic benefit cost				(33)
Balance, March 30,2013	$ 282	$ 14,914	$ 70,327	$ (517)