| Earnings Per Share [Text Block] |
11. Earnings (loss) per share
The following table details the weighted average number of shares outstanding for the purposes of computing basic and diluted earnings (loss) per share for:
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(Number of common shares)
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Period ended
December 29,
2013
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Period ended
December 30,
2012
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Period ended
January 1,
2012
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Basic weighted average shares outstanding
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16,361,865
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16,294,893
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16,136,114
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Dilutive stock options (a)(b)
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—
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120,629
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105,896
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Diluted weighted average shares outstanding
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16,361,865
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16,415,522
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16,242,010
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(a)
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For the period ended December 29, 2013, as a result of a net loss for the period, dilutive 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 33,816 for the period ended December 29, 2013.
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(b)
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Dilutive stock options were determined by using the treasury stock method. For the periods ended December 30, 2012 and January 1, 2012, the average share prices used were $3.07 and $2.38 per share, respectively.
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During the periods ended December 30, 2012 and January 1, 2012, the calculations of diluted weighted average shares outstanding did not include 620,150 and 263,150 options, respectively, as the effect would have been anti-dilutive.
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