| Earnings Per Share [Text Block] |
7. Earnings 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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Three
months ended
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(Number
of common shares)
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April
1, 2012
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April
3, 2011
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Basic
weighted average shares outstanding
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16,228,666
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15,955,281
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Dilutive
stock options (a)
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122,311
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334,169
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Diluted
weighted average shares outstanding
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16,350,977
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16,289,750
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(a)
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For
the three months ended April 1, 2012 and April 3,
2011, as a result of net earnings from continuing
operations, dilutive options were determined using
the treasury stock method, using an average share
price of $3.16 and $3.26 per share,
respectively. For the three months ended April 1,
2012 and April 3, 2011, the calculation did not
include 590,600 and 50,000 stock options,
respectively, as the effect would have been
anti-dilutive.
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