| 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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Nine
months ended
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(Number
of common shares)
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September
30,
2012
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October
2,
2011
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September
30,
2012
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October
2,
2011
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Basic
weighted average shares outstanding
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16,319,255
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16,200,575
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16,283,803
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16,113,866
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Dilutive
stock options (a)
(b)
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124,798
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—
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135,469
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—
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Diluted
weighted average shares outstanding
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16,444,053
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16,200,575
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16,419,272
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16,113,866
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(a)
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For
the three and nine months ended September 30, 2012,
as a result of net earnings from continuing
operations, dilutive options were determined using
the treasury stock method, using an average share
price of $3.08 and $3.24 per share,
respectively. For the three and nine months ended
September 30, 2012, the calculation did not include
590,600 and 408,267 stock options, respectively, as
the effect would have been anti-dilutive.
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(b)
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As
a result of the net loss from continuing operations
for the three and nine months ended October 2, 2011,
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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