Earnings Per Share

3 Months Ended

Jun. 29, 2012

Earnings Per Share

Note 8. Earnings Per Share

The Company’s net earnings per share calculations are in accordance with FASB ASC 260-10.  Accordingly, basic earnings (loss) per share are computed by dividing net earnings (loss) by the weighted average number of shares outstanding for each year.  The calculation of loss per share is as follows:

	Three months ended
Basic and Diluted	June 29, 2012			July 1, 2011
Weighted Average Basic Shares Outstanding		31,161,000			30,687,000
Dilutive effect of Stock Options and Warrants		--			1,072,000
Weighted Average Diluted Shares Outstanding		31,161,000			31,759,000
Net income (loss)	$	(993,000	)	$	18,000
Basic income (loss) per share	$	(0.03	)	$	0.00
Diluted income (loss) per share	$	(0.03	)	$	0.00

The dilutive effect of stock options for the three-month period ended June 29, 2012 was not included in the calculation of diluted loss per share because to do so would have had an anti-dilutive effect as the Company had a net loss for the period. As of June 29, 2012, the number of anti-dilutive shares excluded from diluted earnings per share totaled approximately 2.9 million shares, which includes approximately 897,000 anti-dilutive warrants.