Note 10 - Per Share Data

9 Months Ended

Oct. 03, 2015

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 thirty-nine week periods ended October 3, 2015 and September 27, 2014 was determined as follows:

	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	October 3, 2015		September 27, 2014		October 3, 2015		September 27, 2014

Basic weighted average shares outstanding		12,724,899		12,540,955		12,715,236		12,494,793
Dilutive effect of outstanding stock options and restricted stock awards		272,877		217,850		236,648		198,036
Weighted average dilutive shares outstanding		12,997,776		12,758,805		12,951,884		12,692,829

There were 40,000 and 45,000 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the thirty-nine week periods ended October 3, 2015 and September 27, 2014, respectively. These were determined to be anti-dilutive because the exercise prices of these shares for the periods were higher than the average market price of the Company’s common stock for the same periods.

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

	October 3, 2015		January 3, 2015

Exercise of options outstanding		44,500		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		49,436		122,484

Total		1,015,603		1,100,484