EARNINGS PER SHARE

9 Months Ended

Mar. 30, 2014

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE J – EARNINGS PER SHARE

Basic earnings (loss) per share includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share, reflects the potential dilution of securities that could share in the earnings of the entity. As of March 30, 2014 the Company had no outstanding stock options, therefore there was no computation of effect of dilutive securities. In addition, there was no effect of the convertible debt on the dilutive calculation since the non-market based contingency had not been met.

The following table represents a reconciliation of the shares used to calculate basic and diluted earnings (loss) per share for the respective periods indicated (in thousands, except per share amounts), giving effect to the 1.5:1 stock dividend paid on May 1, 2014:

	For the Three Months Ended
	March 30,						March 31,
	2014						2013
	Net Earnings (Loss) Attributed to Common Stock		Weighted Average Shares		Per Share Earnings (Loss)		Net Earnings (Loss) Attributed to Common Stock			Weighted Average Shares		Per Share Earnings (Loss)
Basic EPS:
Net Earnings from Continuing Operations	$	1,584		14,673	$	0.11	$	1,020			14,182	$	0.07
Net Loss from Discontinued Operations		—		—		—		(268	)		14,182		(0.02	)
Basic and Diluted Earnings per Share	$	1,584		14,673	$	0.11	$	752			14,182	$	0.05

	For the Nine Months Ended
	March 30,						March 31,
	2014						2013
	Net Earnings (Loss) Attributed to Common Stock		Weighted Average Shares		Per Share Earnings (Loss)		Net Earnings (Loss) Attributed to Common Stock			Weighted Average Shares		Per Share Earnings (Loss)
Basic EPS:
Net Earnings from Continuing Operations	$	4,353		14,562	$	0.30	$	1,865			13,597	$	0.14
Net Loss from Discontinued Operations		—		—		—		(408	)		13,597		(0.03	)
Basic and Diluted Earnings per Share	$	4,353		14,562	$	0.30	$	1,457			13,597	$	0.11