Earnings Per Share [Text Block] |
| Earnings (loss) per common share
| The following table details the weighted average number of common shares outstanding for the purposes of computing basic and diluted earnings per common share for the following periods: | |
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| | Basic weighted average shares outstanding
| | | 16,510,180 | | | | 16,417,276 | | | | 16,502,081 | | | | 16,417,276 | | Dilutive stock awards (a) (b) (c)
| | | — | | | | — | | | | 1,048,074 | | | | — | | Diluted weighted average shares outstanding
| | | 16,510,180 | | | | 16,417,276 | | | | 17,550,155 | | | | 16,417,276 | | (a) | Dilutive stock awards include outstanding RSU’s and in-the money stock options determined using the treasury stock method | | |
| Dilutive options were determined using the treasury stock method, using an average price of $1.52 per share for three months ended October 2, 2016. As a result of the net loss for the three months ended October 2, 2016, diluted earnings per share was calculated using the basic weighted average shares outstanding as the effect of potential common shares would have been anti-dilutive. Had there been net income for the three months ended October 2, 2016, dilutive stock awards would have been calculated as 1,046,730. For the nine months ended October 2, 2016, dilutive options were determined using the treasury stock method, using an average price of $1.47 per share. Total dilutive stock awards were calculated as 1,048,074.
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For the three months and nine months ended September 27, 2015, as a result of the net loss, diluted earnings per share was calculated using the basic weighted average shares outstanding as the effect of potential common shares would have been anti-dilutive. Had there been net income for the three and nine months ended September 27, 2015, there still would be no dilutive stock awards as no outstanding stock options were considered in the money.
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