Stockholders' Equity

6 Months Ended

Jun. 28, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

5.         Stockholders’ Equity

Basic earnings per common share are based upon the weighted average shares outstanding.  Outstanding stock options and restricted stock are treated as potential common stock for purposes of computing diluted earnings per share.  Basic and diluted earnings per share are calculated using the following share data:

	Three Months Ended		Six Months Ended
	June 28, 2014	June 29, 2013	June 28, 2014	June 29, 2013
Weighted average shares outstanding for basic calculation	14,167	14,127	14,165	14,148
Add: Effect of dilutive stock options	-	-	-	-
Weighted average shares outstanding, adjusted for diluted calculation	14,167	14,127	14,165	14,148

During the three and six month periods ended June 28, 2014 and June 29, 2013, the dilutive effect of outstanding stock options is not recognized since we have a net loss for those periods.  Approximately 1.8 million shares in the three and six month periods of 2014 were issuable upon the exercise of stock options compared to 2.1 million shares in the three and six month periods of 2013.  Also, 707,000 shares in 2014 and 381,000 shares in 2013 of restricted stock were not included in the diluted calculation because they were anti-dilutive.

A reconciliation of the activity in Stockholders’ Equity accounts for the first half of 2014 is as follows:

	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive Loss
Balance, December 31, 2013	$	283	$	15,732	$	59,784	$	(158)
Net loss		-		-		(23,470)		-
Stock-based compensation		-		455		-		-
Exercise of stock options		-		-		-		-
Adjustment to net periodic benefit cost		-		-		-		(69)
Balance, June 28, 2014	$	283	$	16,187	$	36,314	$	(227)