Note 10 - Per Share Data

3 Months Ended

Apr. 01, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

1 0 . 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

thirteen

week periods ended

April

1,

2017

and

April

2,

2016

was determined as follows:

	Thirteen Week Periods Ended
	April 1, 2017		April 2, 2016
Basic weighted average shares outstanding		11,946,653		12,482,547
Dilutive effect of outstanding stock options and restricted stock awards		101,114		67,198
Weighted average dilutive shares outstanding		12,047,767		12,549,745

There were

40,000

and

69,500

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

thirteen

week periods ended

April

1,

2017

and

April

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 market price of the Company’s common stock for the same periods.

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

	April 1, 2017		December 31, 2016
Exercise of options outstanding		42,000		42,000
Time-based restricted stock units outstanding		197,734		197,734
Performance-based restricted stock units outstanding		400,000		200,000
Future grants of options or shares		419,266		619,266
Shares reserved for employee stock purchase plan		224,463		268,211
Total		1,283,463		1,327,211