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(3) Net Income Per Common and Common Equivalent Share
 6 Months Ended
Jun. 27, 2015
Earnings Per Share [Abstract]  
(3) Net Income Per Common and Common Equivalent Share

(3)  Net Income Per Common and Common Equivalent Share

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period.  Diluted net income per common share is calculated by dividing net income by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights.  Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive.

 

The following table presents the calculation of both basic and diluted earnings per share (“EPS”):

 

  Three Months Ended    Six Months Ended  
    June 27,      June 28,      June 27,      June 28,  
     2015      2014      2015      2014  
        
Basic EPS Computation:            
Numerator:                    
Net income (loss)  $113,832   $(57,417)  $187,619   $190,202 
Denominator:                    
Weighted average                    
Common shares                    
Outstanding   13,178,297    13,084,968    13,162,984    13,077,273 
Basic EPS  $0.01   $0.00   $0.01   $0.01 
Diluted EPS Computation:                    
Numerator:                    
Net income (loss)  $113,832   $(57,417)  $187,619   $190,202 
Denominator:                    
Weighted average                    
Common shares                    
Outstanding   13,178,297    13,084,968    13,162,984    13,077,273 
Dilutive effect of stock options   449,049    —      516,371    628,297 
Total Shares   13,627,346    13,084,968    13,679,355    13,705,570 
Diluted EPS  $0.01   $0.00   $0.01   $0.01