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Earnings Per Share
 3 Months Ended
Apr. 01, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

Note B – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share amounts)

 

Quarter Ended

 

 

 

April 1

 

 

April 3

 

 

 

2012

 

 

2011

 

Numerator:

 

 

 

 

 

 

 

 

Net income (numerator for basic and diluted earnings per share)

 

$

2,421

 

 

$

1,062

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average shares (denominator for basic earnings per share)

 

 

5,994

 

 

 

5,978

 

Effect of dilutive securities

 

 

186

 

 

 

80

 

Adjusted weighted average shares (denominator for diluted earnings per share)

 

 

6,180

 

 

 

6,058

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

.40

 

 

$

.18

 

Diluted earnings per share

 

$

.39

 

 

$

.18

 

 

 

 

 

 

 

 
            The calculations of diluted earnings per share exclude options for the purchase of 383,000 and 483,500 shares of the Company’s common stock for the quarters ended April 1, 2012 and April 3, 2011, respectively, because the effect of their inclusion would be anti-dilutive.