Annual report pursuant to Section 13 and 15(d)

Net Income (Loss) Per Share

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Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2011
Net Income (Loss) Per Share [Abstract]  
Net Income (Loss) Per Share

Note 9 – Net Income (Loss) Per Share

Net income (loss) per share has been computed in accordance with ASC 260 Earnings per Share. The following table sets forth the computation of basic and diluted net income (loss) per share:

 

     52 Weeks Ended
January 2,
2010		      52 Weeks Ended
January 1,
2011		     52 Weeks Ended
December 31,
2011		  
     (in thousands, except share and per share data)  
Net income (Loss) Per Share        

Numerator:

        

Net income (loss)

    $ 1,317       $ (13,926 )    $ (15,137 ) 

Denominator:

        

Weighted-average common shares outstanding (basic)

      29,851,873         30,269,462        30,545,638   

Common equivalent shares from common stock options and warrants

      957,238         —          —     
  

 

 

     

 

 

    

 

 

  

Weighted-average common shares outstanding (diluted)

      30,809,111         30,269,462        30,545,638   

Basic net income (loss) per share

    $ 0.04       $ (0.46 )    $ (0.50 ) 

Diluted net income (loss) per share

    $ 0.04       $ (0.46 )    $ (0.50 ) 
  

 

 

     

 

 

    

 

 

  

Potentially dilutive securities were not included in the calculation of diluted net income (loss) per share because these securities would be anti-dilutive due to the Company's stock price. The related securities are as follows (in common equivalent shares):

 

     52 Weeks
Ended
January 2,
2010		      52 Weeks
Ended
January 1,
2011		      52  Weeks
Ended
December 31,
2011 		 

Common stock warrants

      —           12,033         20,000   

Options to purchase common stock

      6,777,494         1,508,289         2,524,982   
  

 

 

     

 

 

     

 

 

  

Total

      6,777,494         1,520,232         2,544,982   
  

 

 

     

 

 

     

 

 

  

Additionally, due to the net loss in fiscal 2010 and fiscal 2011, 1,700,550 and 1,418,460, respectively, common equivalent warrant and option shares have been excluded from the computation of diluted net income (loss) per share.