Note 10 - Per Share Data

6 Months Ended

Jul. 04, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

1 0 . Per 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 shares of common stock used to calculate basic and diluted earnings per share for the twenty-six week periods ended July 4, 2015 and June 28, 2014 was determined as follows:

	Thirteen Week Periods Ended		Twenty-Six Week Periods Ended
	July 4, 2015	June 28, 2014	July 4, 2015	June 28, 2014
Basic weighted average shares  outstanding	12,711,660	12,488,420	12,710,404	12,471,712
Dilutive effect of outstanding stock  options and restricted stock awards	233,493	189,552	222,306	186,686
Weighted average dilutive shares outstanding	12,945,153	12,677,972	12,932,710	12,658,398

There were 40,000 and 45,000 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the twenty-six week periods ended July 4, 2015 and June 28, 2014, respectively.  These were determined to be anti-dilutive because the exercise prices of these shares for the periods were higher than the average market price of the Company’s common stock for the same periods.

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

	July 4, 2015		January 3, 2015
Exercise of options outstanding		49,500		53,000
Restricted stock awards outstanding		496,667		500,000
Future grants of options or shares		425,000		425,000
Shares reserved for employee stock purchase plan		89,544		122,484
Total		1,060,711		1,100,484