Note 10 - Per Share Data

9 Months Ended

Sep. 27, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

10. 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 thirty-nine week periods ended September 27, 2014 and September 28, 2013 was determined as follows:

	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	September 27, 2014		September 28, 2013		September 27, 2014		September 28, 2013
Basic weighted average shares outstanding		12,540,955		12,364,018		12,494,793		12,333,318
Dilutive effect of outstanding stock options		217,850		123,400		198,036		98,143
Weighted average dilutive shares outstanding		12,758,805		12,487,418		12,692,829		12,431,461

There were 45,000 and 97,500 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the thirty-nine week periods ended September 27, 2014 and September 28, 2013, respectively.  These were determined to be anti-dilutive because the exercise prices of these shares for the period were higher than the average market price of the Company’s common stock for the same period.

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

	September 27, 2014		December 28, 2013
Exercise of options outstanding		222,900		276,900
Restricted stock awards outstanding		300,000		300,000
Future grants of options or shares		19,100		34,100
Shares reserved for employee stock purchase plan		122,484		189,576
Total		664,484		800,576