SMTC Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Earnings (loss) per common share (Details) - Common shares outstanding for basic and diluted earnings per share

Note 7 - Earnings (loss) per common share (Details) - Common shares outstanding for basic and diluted earnings per share

3 Months Ended

9 Months Ended

Sep. 29, 2013

Sep. 30, 2012

Sep. 29, 2013

Sep. 30, 2012

Common shares outstanding for basic and diluted earnings per share [Abstract]

Basic weighted average shares outstanding

16,360,860

16,319,255

16,350,359

16,283,803

Dilutive stock options(a) (b)

29,518

^[1],[2]

124,798

^[1],[2]

135,469

^[1],[2]

Diluted weighted average shares outstanding

16,390,378

16,444,053

16,350,359

16,419,272

[1]

For the three months ended September 30, 2013, as a result of net earnings from continuing operations, dilutive options were determined using the treasury stock method, using an average share price of $1.91 per share. As a result of the net loss for the nine months ended September 29, 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 45,088 for the nine months ended September 29, 2013.

[2]

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.