XML 31 R14.htm IDEA: XBRL DOCUMENT v3.21.2

Note 7 - Earnings (Loss) Per Common Share

6 Months Ended

Jul. 04, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

(7) Earnings (Loss) Per Common Share

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

Our potentially dilutive securities include potential common shares related to our stock options and restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted earnings per share excludes the impact of common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. There were 4,000 potential common shares excluded from diluted earnings per share for the three and six months ended July 4, 2021. For the three and six months ended July 5, 2020, diluted weighted average common shares do not include the impact of any outstanding stock options and unvested compensation-related shares because the effect of these items on diluted net loss would be anti-dilutive.

A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted (loss) income per common share is as follows (in thousands):

		Three Months Ended								Six Months Ended
		July 4,				July 5,				July 4,				July 5,
		2021				2020				2021				2020
		(Unaudited)								(Unaudited)
Income (loss) attributable to stockholders:
Net income (loss) income as reported		$	3,823			$	(348	)		$	2,193			$	(653	)
Less distributed and undistributed earnings allocable to restricted award holders			0				0				0				0
Less dividends declared attributable to restricted award holders			0				0				0				0
Net income (loss) allocable to common stockholders		$	3,823			$	(348	)		$	2,193			$	(653	)
Income (loss) per common share attributable to stockholders:
Basic		$	0.18			$	(0.02	)		$	0.10			$	(0.03	)
Diluted		$	0.17			$	(0.02	)		$	0.10			$	(0.03	)
Weighted average shares outstanding – basic			21,356				21,016				21,475				21,005
Weighted average additional shares assuming conversion of potential common shares			1,490				0				1,504				0
Weighted average shares outstanding – diluted			22,846				21,016				22,979				21,005

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureTextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

+ Details

Name:	us-gaap_EarningsPerShareTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration