Note 10 - Per Share Data

9 Months Ended

Oct. 01, 2016

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 and thirty-nine week periods ended October 1, 2016 and October 3, 2015 was determined as follows:

	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	October 1, 2016		October 3, 2015		October 1, 2016		October 3, 2015

Basic weighted average shares outstanding		12,295,493		12,724,899		12,380,617		12,715,236
Dilutive effect of outstanding stock options and restricted stock awards		136,150		272,877		102,817		236,648
Weighted average dilutive shares outstanding		12,431,643		12,997,776		12,483,434		12,951,884

There were 42,500 and 40,000 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the thirty-nine week periods ended October 1, 2016 and October 3, 2015, 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 1, 2016		January 2, 2016

Exercise of options outstanding		44,500		44,500
Time-based restricted stock units outstanding		233,834		208,834
Performance-based restricted stock units outstanding		200,000		0
Future grants of options or shares		157,000		382,000
Shares reserved for employee stock purchase plan		268,211		349,436

Total		903,545		984,770