(3) Net Income Per Common and Common Equivalent Share

9 Months Ended

Oct. 01, 2016

Earnings Per Share [Abstract]

(3) Net Income Per Common and Common Equivalent Share

(3)  Net Income Per Common and Common Equivalent Share

Basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period.  Diluted net income (loss) per common share is calculated by dividing net income (loss) by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights.  Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive.

The following table presents the calculation of both basic and diluted EPS:

	Three Months Ended				Nine-Months Ended
		October 1,		September 26,		October 1,		September 26,
		2016		2015		2016		2015
Basic EPS Computation:
Numerator:
Net income (loss)	$	(138,786)	$	8,249	$	(200,395)	$	195,868
Denominator:
Weighted average
Common shares
Outstanding		13,203,436		13,197,827		13,200,584		13,174,598
Basic EPS	$	(0.01)	$	0.00	$	(0.02)	$	0.01
Diluted EPS Computation:
Numerator:
Net income (loss)	$	(138,786)	$	8,249	$	(200,395)	$	195,868
Denominator:
Weighted average
Common shares
Outstanding		13,203,436		13,197,827		13,200,584		13,174,598
Dilutive effect of stock options		—		414,129		—		482,290
Total Shares		13,203,436		13,611,956		13,200,584		13,656,888
Diluted EPS	$	(0.01)	$	0.00	$	(0.02)	$	0.01