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

6 Months Ended

Jun. 27, 2020

Earnings Per Share [Abstract]

(3) Net Income (Loss) Per Common and 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:

		June 27,		June 29,		June 27,		June 29,
		2020		2019		2020		2019
Basic EPS Computation:
Numerator:
Net income (loss)	$	299,231	$	250,598	$	900,885	$	(493,615)
Denominator:
Weighted average
Common shares
Outstanding		13,207,436		13,206,069		13,207,436		13,206,756
Basic EPS	$	0.02	$	0.02	$	0.07	$	(0.04)
Diluted EPS Computation:
Numerator:
Net income (loss)	$	299,231	$	250,598	$	900,885	$	(493,615)
Denominator:
Weighted average
Common shares
Outstanding		13,207,436		13,206,069		13,207,436		13,206,756
Dilutive effect of stock options		52,347		54,192		46,021		—
Total Shares		13,259,783		13,260,261		13,253,457		13,206,756
Diluted EPS	$	0.02	$	0.02	$	0.07	$	(0.04)