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

9 Months Ended

Sep. 25, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

(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 25,		September 26,		September 25,		September 26,
	2021		2020		2021		2020
Basic EPS Computation:
Numerator:
Net income	$	2,727,967	$	231,016	$	2,998,067	$	1,131,901
Denominator:
Weighted average Common shares Outstanding		14,324,136		13,288,652		13,963,563		13,234,508
Basic EPS	$	0.19	$	0.02	$	0.21	$	0.09
Diluted EPS Computation:
Numerator:
Net income	$	2,727,967	$	231,016	$	2,998,067	$	1,131,901
Denominator:
Weighted average Common shares Outstanding		14,324,136		13,288,652		13,963,563		13,234,508
Dilutive effect of stock options		487,124		167,834		578,793		87,217
Total Shares		14,811,259		13,456,486		14,542,356		13,320,915
Diluted EPS	$	0.18	$	0.02	$	0.21	$	0.09