Note 10 - Share Data

6 Months Ended

Jul. 02, 2011

Stockholders' Equity Note Disclosure [Text Block]

10. Share Data

Both basic and diluted earnings per share for all periods are calculated based on the reported earnings in the Company’s consolidated statements of income.

The number of common shares used to calculate basic and diluted earnings per share for the thirteen and twenty-six week periods ended July 2, 2011 and July 3, 2010 was determined as follows:

	Thirteen Week Periods Ended				Twenty-Six Week Periods Ended
	July 2, 2011		July 3, 2010		July 2, 2011		July 3, 2010
Basic weighted average shares outstanding		13,059,595		12,984,539		13,072,042		12,991,859
Dilutive effect of outstanding stock options		240,513		164,613		195,940		104,176
Dilutive shares		13,300,108		13,149,152		13,267,982		13,096,035

There were 78,900 and 970,900 options not included in the calculation of common stock equivalents because the exercise price of the options exceeded the average market price during the twenty-six week periods ended July 2, 2011 and July 3, 2010, respectively.  There were 47,500 and 803,400 options not included in the calculation of common stock equivalents because the exercise price of the options exceeded the average market price during the thirteen week periods ended July 2, 2011 and July 3, 2010, respectively.

Unissued shares of common stock were reserved for the following purposes:

	July 2, 2011		January 1, 2011
Exercise of options outstanding		1,035,094		1,101,594
Future grants of options or shares		435,600		415,600
Shares reserved for employee stock purchase plan		298,097		320,364
Total		1,768,791		1,837,558