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Net Income (Loss) Per Share (Notes)
 9 Months Ended
Sep. 27, 2015
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Income (Loss) per Share
The Company applies the two-class method to calculate and present net income (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. As the Company incurred net losses for the nine months ended September 27, 2015 and September 28, 2014 and the three months ended September 28, 2014 and 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 income (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 income (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 income (loss) per share:
 
Three Months Ended
 
Nine Months Ended
 
September 27, 2015
 
September 28, 2014
 
September 27, 2015
 
September 28, 2014
Basic net income (loss) per share:
 
 
 
 
 
 
 
Net income (loss)
$
7,239

 
$
(1,721
)
 
$
(7,014
)
 
$
(11,082
)
Less: Income attributable to non-vested restricted shares
(80
)
 
—

 
—

 
—

Less: Income attributable to preferred stock
(1,517
)
 
—

 
—

 
—

Net income available to common stockholders
$
5,642

 
$
(1,721
)
 
$
(7,014
)
 
$
(11,082
)
Weighted average common shares outstanding
35,009,656

 
34,797,490

 
34,930,326

 
29,571,846

Basic net income (loss) per share
$
0.16

 
$
(0.05
)
 
$
(0.20
)
 
$
(0.37
)
Diluted net income (loss) per share:
 
 
 
 
 
 
 
Shares used in computed basic net income (loss) per share
35,009,656

 
34,797,490

 
34,930,326

 
29,571,846

Dilutive effect of preferred stock and non-vested shares
9,668,858

 
—

 
—

 
—

Shares used in computed diluted net income (loss) per share
44,678,514

 
34,797,490

 
34,930,326

 
29,571,846

Diluted net income (loss) per share
$
0.16

 
$
(0.05
)
 
$
(0.20
)
 
$
(0.37
)
Shares excluded from diluted net income (loss) per share computation (1)
—

 
9,813,285

 
9,886,530

 
9,813,285


(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.