Quarterly report pursuant to Section 13 or 15(d)

3. Earnings per Share

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3. Earnings per Share
6 Months Ended
Jul. 01, 2017
Earnings (loss) per share:  
Earnings per Share

Basic income per common share is computed based on the weighted average number of common shares outstanding. Diluted income per common share is computed based on the weighted average number of shares of common stock outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive shares of common stock been issued. Potentially dilutive shares of common stock include unexercised stock options and warrants.  Basic per share amounts are computed, generally, by dividing net income attributable to controlling interest by the weighted average number of shares of common stock outstanding. Diluted per share amounts assume the conversion, exercise or issuance of all potential common stock instruments unless their effect is anti-dilutive, thereby reducing the loss or increasing the income per common share.  In calculating diluted weighted average shares and per share amounts, we included stock options and warrants with exercise prices below average market prices, for the respective reporting periods in which they were dilutive, using the treasury stock method. We calculated the number of additional shares by assuming the outstanding stock options were exercised and that the proceeds from such exercises were used to acquire shares of common stock at the average market price during the quarter. For the 13 weeks and 26 weeks ended July 1, 2017 and July 2, 2016, we excluded options and warrants to purchase 734 and 734 shares of common stock from the diluted weighted average shares outstanding calculation as the effect of these options were anti-dilutive.

 

    13 Weeks Ended     26 Weeks Ended  
    July 1, 2017     July 2, 2016     July 1, 2017     July 2, 2016  
Basic                        
                         
Net income (loss) attributed to controlling interest   $ 2,063     $ (2,103 )   $ 4,271     $ (2,554 )
                                 
Weighted average common shares outstanding     6,655       5,929       6,655       5,915  
                                 
Basic earnings (loss) per share   $ 0.31     $ (0.35 )   $ 0.64     $ (0.43 )
                                 
                                 
Diluted                                
                                 
Net income (loss) applicable to diluted earnings (loss) per share   $ 2,063     $ (2,103 )   $ 4,271     $ (2,554 )
                                 
Weighted average common shares outstanding     6,655       5,929       6,655       5,915  
Add: Options                        
Add: Common Stock Warrants     32             51        
Assumed diluted weighted average common shares outstanding     6,687       5,929       6,706       5,915  
                                 
Diluted earnings (loss) per share   $ 0.31     $ (0.35 )   $ 0.64     $ (0.43 )