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Note 10 - Per Share Data
 3 Months Ended
Apr. 04, 2015
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 April 4, 2015 and March 29, 2014 was determined as follows:


   

Thirteen Week Periods Ended

 
   

April 4, 2015

   

March 29, 2014

 
                 

Basic weighted average shares outstanding

    12,456,220       12,455,004  

Dilutive effect of outstanding stock options

    210,261       184,634  

Weighted average dilutive shares outstanding

    12,666,481       12,639,638  

There were 240,000 and 30,000 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the thirteen week periods ended April 4, 2015 and March 29, 2014, 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:


   

April 4, 2015

   

January 3, 2015

 
                 

Exercise of options outstanding

    49,500       53,000  

Restricted stock awards outstanding

    496,667       500,000  

Future grants of options or shares

    425,000       425,000  

Shares reserved for employee stock purchase plan

    89,544       122,484  
                 

Total

    1,060,711       1,100,484