Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income per Share

The Company applies the two-class method to calculate and present net income 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 income 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.

Basic net income 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 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 per share:

	Year ended
	December 31, 2017			January 1, 2017			January 3, 2016
Basic net income per share:
Net income	$	7,159		$	45,472		$	4
Less: Income attributable to non-vested shares	(118		)	(616		)	—
Less: Income attributable to preferred stock	(1,479		)	(9,461		)	(1		)
Net income available to common stockholders	$	5,562		$	35,395		$	3
Weighted average common shares outstanding	35,416,531			35,178,329			34,958,847
Basic net income per share	$	0.16		$	1.01		$	0.00
Diluted net income per share:
Net income	$	7,159		$	45,472		$	4
Shares used in computing basic net income per share	35,416,531			35,178,329			34,958,847
Dilutive effect of preferred stock and non-vested shares	9,559,983			9,673,016			9,664,404
Shares used in computing diluted net income per share	44,976,514			44,851,345			44,623,251
Diluted net income per share (1)	$	0.16		$	1.01		$	0.00

(1) Diluted net income per share is equal to basic net income per share for the periods presented due to the allocation of earnings to participating securities under the two-class method of calculating basic net income per share causing basic net income per share to be lower than diluted net income per share calculated under the treasury-stock method.