Note 2 - Earnings (loss) per Share

3 Months Ended

Jul. 01, 2012

Earnings Per Share [Text Block]

2.           Earnings (loss) per Share

Earnings (loss) per share, basic, is computed based on the weighted average number of common shares outstanding for the period.  Earnings (loss) per share, diluted, is computed based on the weighted average number of common and potentially dilutive common equivalent shares outstanding for the period.  A reconciliation of the numerators and denominators of the basic and diluted loss per share computations are illustrated below:

	13 weeks ended
	July 1, 2012		July 3, 2011
	(in thousands, except per share amounts)
Net income (loss)	$	103	$	(826	)
Weighted average number of common shares outstanding:
Basic		14,190		14,190
Effect of dilutive securities-stock options		9		-
Diluted		14,199		14,190
Earnings (loss) per share:
Basic	$	0.01	$	(0.06	)
Effect of dilutive securities-stock options		-		-
Diluted	$	0.01	$	(0.06	)

Options to purchase an aggregate of2.2 million and 1.9 million shares for the 13 weeks ended July 1, 2012 and July 3, 2011, respectively, are excluded from the computation of diluted loss per share as their effect would have been anti-dilutive.