| Earnings Per Share [Text Block] |
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7.
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Earnings (loss) per common share
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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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Six months ended
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June 29, 2014
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June 30,
2013
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June 29, 2014
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June 30,
2013
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Basic weighted average shares outstanding
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16,417,276
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16,346,025
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16,417,273
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16,345,109
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Dilutive stock options(a) (b)
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-
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-
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-
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-
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Diluted weighted average shares outstanding
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16,417,276
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16,346,025
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16,417,273
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16,345,109
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(a)
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As a result of the net earnings from continuing operations for the three months ended June 29, 2014, dilutive options were determined using the treasury stock method, using an average price of $1.76 per share. As a result of the net loss for the six months ended June 29, 2014, 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.
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(b)
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As a result of the net loss for the three and six months ended June 30, 2013, 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 earnings, the impact of dilutive stock options would have been calculated as 41,360 and 52,873 respectively for the three and six months ended June 30, 2013.
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