Note 9 - Per Share Data

3 Months Ended

Apr. 01, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

9.    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 thirteen weeks ended April 1, 2023 and April 2, 2022 was determined as follows:

	Thirteen Weeks Ended
	April 1, 2023		April 2, 2022
Basic weighted average shares outstanding		9,172,511		10,230,510
Dilutive effect of outstanding restricted share awards		229,356		333,485
Diluted weighted average shares outstanding		9,401,867		10,563,995

For all periods presented, 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:

	April 1, 2023		December 31, 2022
Time-based restricted stock awards outstanding		471,096		274,939
Performance-based restricted stock awards outstanding		100,000		-
Performance-based restricted stock awards outstanding under plans to be approved by the shareholders		-		225,000
Future grants of options or shares		632,094		890,682
Shares reserved for employee stock purchase plan		331,160		364,231
Total		1,534,350		1,754,852