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Note 10 - Per Share Data
 12 Months Ended
Jan. 01, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

10.  PER SHARE DATA

 

The Company uses the treasury stock method to calculate the weighted-average shares outstanding used for diluted earnings per share.  The number of weighted-average shares used to calculate basic and diluted earnings per share for the fiscal years ended January 1, 2022 and January 2, 2021 was determined as follows:

 

  

Fiscal Years Ended

 
  

January 1,

2022

  

January 2,

2021

 

Basic weighted average shares outstanding

  11,035,361   12,152,042 

Dilutive effect of outstanding restricted share awards

  589,740   - 
         

Weighted average dilutive shares outstanding

  11,625,101   12,152,042 

 

Because the year ended January 2, 2021 recorded a net loss, the otherwise dilutive effect of 46,873 outstanding restricted share awards has not been included in the weighted average diluted shares outstanding.  For the years ended January 1, 2022 and January 2, 2021, there were no anti-dilutive shares included in the calculation of common stock equivalents.

 

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

 

  

January 1,

2022

  

January 2,

2021

 

Time-based restricted stock awards outstanding

  420,628   459,805 

Unvested subscription restricted share awards

  -   250,000 

Performance-based restricted stock awards outstanding

  125,000   - 

Future grants of options or shares

  107,924   520,929 

Shares reserved for employee stock purchase plan

  448,110   149,894 
         

Total

  1,101,662   1,380,628