Note 9 - Per Share Data

6 Months Ended

Jul. 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 and twenty-six weeks ended July 1, 2023 and July 2, 2022 was determined as follows:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Basic weighted average shares outstanding		8,297,521		10,133,279		8,734,848		10,181,895
Dilutive effect of outstanding restricted share awards		260,875		417,617		241,866		401,624
Diluted weighted average shares outstanding		8,558,396		10,550,896		8,976,714		10,583,519

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:

	July 1, 2023		December 31, 2022
Time-based restricted stock awards outstanding		497,561		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		605,629		890,682
Shares reserved for employee stock purchase plan		331,160		364,231
Total		1,534,350		1,754,852