Note 10 - Per Share Data

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

10.

PER SHARE DATA

The Company uses the treasury stock method to calculate the weighted-average shares used for diluted earnings per share. The number of common shares used to calculate basic and diluted earnings per share for the fiscal years ended

December

31,

2016

and

January

2,

2016

was determined as follows:

	Fiscal Years Ended
	December 31, 2016		January 2, 2016
Basic weighted average shares outstanding		12,302,558		12,658,466
Dilutive effect of outstanding restricted share units and stock options		120,790		242,484
Weighted average dilutive shares outstanding		12,423,348		12,900,950

There were

40,000

and

42,500

absolute anti-dilutive shares not included in the calculation of common stock equivalents for the fiscal years ended

December

31,

2016

and

January

2,

2016,

respectively.

These were determined to be anti-dilutive because the exercise prices of these shares for the periods were higher than the average price of all shares for the same periods.

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

	December 31, 2016		January 2, 2016
Exercise of options outstanding		42,000		44,500
Time-based restricted share units outstanding		197,734		208,834
Performance-based restricted share units outstanding		200,000		0
Future grants of options or shares		619,266		382,000
Shares reserved for employee stock purchase plan		268,211		349,436
Total		1,327,211		984,770