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Note 10 - Per Share Data
 3 Months Ended
Mar. 29, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

10.

Per Share Data


Both basic and diluted earnings per share for all periods are calculated based on the reported earnings in the Company’s consolidated statements of income.


The number of shares of common stock used to calculate basic and diluted earnings per share for the thirteen week periods ended March 29, 2014 and March 30, 2013 was determined as follows:


   

Thirteen Week Periods Ended

 
   

March 29,

2014

   

March 30,

2013

 
                 

Basic weighted average shares outstanding

    12,455,004       12,311,066  

Dilutive effect of outstanding stock options

    184,634       71,711  
                 

Weighted average dilutive shares outstanding

    12,639,638       12,382,777  

There were 30,000 and 97,500 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the thirteen week periods ended March 29, 2014 and March 30, 2013, respectively.  These were determined to be anti-dilutive because the exercise prices of these shares for the period were higher than the average market price of the Company’s common stock for the same period.


Unissued shares of common stock were reserved for the following purposes:


   

March 29,

2014

   

December 28,

2013

 
                 

Exercise of options outstanding

    252,400       276,900  

Restricted stock awards outstanding

    300,000       300,000  

Future grants of options or shares

    34,100       34,100  

Shares reserved for employee stock purchase plan

    155,714       189,576  
                 

Total

    742,214       800,576