XML 70 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Income (Loss) Per Share (Notes)
 9 Months Ended
Sep. 29, 2013
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Loss per Share
The Company applies the two-class method to calculate and present net loss per share. The Company's non-vested share awards and convertible Preferred Stock issued to BKC contain non-forfeitable rights to dividends and are considered participating securities for purposes of computing net loss per share pursuant to the two-class method. Under the two-class method, net earnings are reduced by the amount of dividends declared (whether paid or unpaid) and the remaining undistributed earnings are then allocated to common stock and participating securities, based on their respective rights to receive dividends. However, as the Company has incurred net losses for the nine months ended September 29, 2013 and September 30, 2012, and as those losses are not allocated to the participating securities under the two-class method, such method is not applicable for the aforementioned interim reporting periods.
Basic net loss per share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period. Diluted net loss per share reflects additional shares of common stock outstanding, where applicable, calculated using the treasury stock method or the two-class method.
The following table sets forth the calculation of basic and diluted net loss per share:
 
Three Months Ended
 
Nine Months Ended
 
September 29, 2013
 
September 30, 2012
 
September 29, 2013
 
September 30, 2012
Basic and diluted net loss per share:
 
 
 
 
 
 
 
Net loss from continuing operations
$
(2,762
)
 
$
(6,340
)
 
$
(11,457
)
 
$
(10,022
)
Net income (loss) from discontinued operations
$
—

 
$
(2
)
 
$
—

 
$
42

Basic and diluted weighted average common shares outstanding
23,020,529

 
22,747,041

 
22,929,505

 
22,524,537

Basic and diluted net loss per share from continuing operations
$
(0.12
)
 
$
(0.28
)
 
$
(0.50
)
 
$
(0.44
)
Basic and diluted net income (loss) per share from discontinued operations
$
—

 
$
—

 
$
—

 
$
—

Common shares excluded from diluted net loss per share computation (1)
10,066,823

 
10,351,797

 
10,066,823

 
10,351,797


(1)
Shares subject to preferred stock, stock options and non-vested shares were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive.