Annual report pursuant to Section 13 and 15(d)

Note 12 - Earnings (loss) per common share

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Note 12 - Earnings (loss) per common share
 12 Months Ended
Jan. 01, 2012
Earnings Per Share [Text Block]
12.
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 (loss) per common share for:

(Number of common shares)
 
Period ended
January 1,
2012
   
Period ended
January 2,
2011
   
Period ended
January 3,
2010
 
Basic weighted average shares outstanding
    16,136,114       15,072,425       14,646,333  
Dilutive stock options (a)
    105,896       546,818       —  
                         
Diluted weighted average shares outstanding
    16,242,010       15,619,243       14,646,333  

(a)
Dilutive stock options were determined by using the treasury stock method. For the periods ended January 1, 2012, January 2, 2011 and January 3, 2010, the average share prices used were $2.38, $2.91, and $0.70 per share, respectively.

During the periods ended January 1, 2012, January 2, 2011 and January 3, 2010, the calculations of diluted weighted average shares outstanding did not include 263,150,  231,173 and 1,937,440 options, respectively, as the effect would have been anti-dilutive.