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Note 5 - Net Income Per Common and Common Equivalent Share

6 Months Ended

Jun. 28, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

(5) 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. Had there been a profit in Q2 and year to date in 2024, the dilutive effect would have been 29,254 shares and 50,607 shares, respectively.

The following table presents the calculation of both basic and diluted EPS:

		Three Months Ended								Six Months Ended
		June 28,				June 29,				June 28,				June 29,
		2025				2024				2025				2024
Basic EPS Computation:
Numerator:
Net income (loss)		$	103,833			$	(954,304	)		$	199,795			$	(1,097,458	)

Denominator:
Weighted average
Common shares
Outstanding			14,525,960				14,519,215				14,525,960				14,519,215

Basic EPS		$	0.01			$	(0.07	)		$	0.01			$	(0.08	)

Diluted EPS Computation:
Numerator:
Net income (loss)		$	103,833			$	(954,304	)		$	199,795			$	(1,097,458	)

Denominator:
Weighted average
Common shares
Outstanding			14,525,960				14,519,215				14,525,960				14,519,215
Dilutive effect of stock options			51,473				-				34,712				-

Total Shares			14,577,433				14,519,215				14,560,672				14,519,215

Diluted EPS		$	0.01			$	(0.07	)		$	0.01			$	(0.08	)