Note 10 - Per Share Data

12 Months Ended

Dec. 31, 2022

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 outstanding used for diluted earnings per share. The number of weighted-average shares used to calculate basic and diluted earnings per share for the fiscal years ended December 31, 2022, January 1, 2022 and January 2, 2021 was determined as follows:

	Fiscal Years Ended
	December 31, 2022		January 1, 2022		January 2, 2021
Basic weighted average shares outstanding		10,051,688		11,035,361		12,152,042
Dilutive effect of outstanding restricted share awards		390,488		589,740		-
Weighted average dilutive shares outstanding		10,442,176		11,625,101		12,152,042

For the fiscal years ended December 31, 2022, January 1, 2022 and January 2, 2021, there were no anti-dilutive shares included in the calculation of common stock equivalents as there were no stock options outstanding.

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

	December 31, 2022		January 1, 2022		January 2, 2021
Time-based restricted stock awards outstanding		274,939		420,628		459,805
Unvested subscription restricted share awards		-		-		250,000
Performance-based restricted stock awards outstanding		225,000		125,000		-
Future grants of options or shares		890,682		107,924		520,929
Shares reserved for employee stock purchase plan		364,231		448,110		149,894
Total		1,754,852		1,101,662		1,380,628