Net Income (Loss) Per Share

12 Months Ended

Dec. 28, 2014

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 Series A 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 from continuing operations for the years ended December 28, 2014, December 29, 2013 and December 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 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:

	Year ended
	December 28, 2014			December 29, 2013			December 30, 2012
Basic and diluted net loss per share:
Net loss from continuing operations	$	(38,117	)	$	(13,519	)	$	(18,816	)
Net loss from discontinued operations	$	—		$	—		$	(72	)
Basic and diluted weighted average common shares outstanding	30,885,275			22,958,963			22,580,468
Basic and diluted net loss per share from continuing operations	$	(1.23	)	$	(0.59	)	$	(0.83	)
Basic net loss per share from discontinued operations	$	—		$	—		$	0.00
Common shares excluded from diluted net loss per share computation (1)	9,810,007			10,077,503			10,349,208

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