(3) Net Income (Loss) Per Common Equivalent Share

3 Months Ended

Mar. 28, 2020

Earnings Per Share [Abstract]

(3) Net Income (Loss) Per Common Equivalent Share

 (3)        Net Income (Loss) 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
		March 28,		March 30,
		2020		2019
Basic EPS Computation:
Numerator:
Net income (loss)	$	601,654	$	(744,214)
Denominator:
Weighted average
Common shares
Outstanding		13,207,436		13,206,069
Basic EPS	$	0.05	$	(0.06)
Diluted EPS Computation:
Numerator:
Net income (loss)	$	601,654	$	(744,214)
Denominator:
Weighted average
Common shares
Outstanding		13,207,436		13,206,069
Dilutive effect of stock options		39,695		—
Total Shares		13,247,131		13,206,069
Diluted EPS	$	0.05	$	(0.06)