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

9 Months Ended

Sep. 26, 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:

	Three Months Ended					Nine Months Ended
			September 26,		September 28,		September 26,		September 28,
			2020		2019		2020		2019
Basic EPS Computation:
Numerator:
Net income (loss)		$	231,016	$	(495,970)	$	1,131,901	$	(989,586)
Denominator:
Weighted average
Common shares
Outstanding			13,288,652		13,206,069		13,234,508		13,206,984
Basic EPS		$	0.02	$	(0.04)	$	0.09	$	(0.07)
Diluted EPS Computation:
Numerator:
Net income (loss)		$	231,016	$	(495,970)	$	1,131,901	$	(989,586)
Denominator:
Weighted average
Common shares
Outstanding			13,288,652		13,206,069		13,234,508		13,206,984
Dilutive effect of stock options			167,834		—		87,217		—
Total Shares			13,456,486		13,206,069		13,320,915		13,206,984
Diluted EPS		$	0.02	$	(0.04)	$	0.09	$	(0.07)