Note 10 - Per Share Data

6 Months Ended

Jun. 28, 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 twenty-six week periods ended June 28, 2014 and June 29, 2013 was determined as follows:

	Thirteen Week Periods Ended				Twenty-Six Week Periods Ended
	June 28, 2014		June 29, 2013		June 28, 2014		June 29, 2013
Basic weighted average shares outstanding		12,488,420		12,324,868		12,471,712		12,317,967
Dilutive effect of outstanding stock options		189,552		99,569		186,686		85,742
Weighted average dilutive shares outstanding		12,677,972		12,424,437		12,658,398		12,403,709

There were 45,000 and 97,500 absolute anti-dilutive shares not included in the calculation of common stock equivalents for the twenty-six week periods ended June 28, 2014 and June 29, 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:

	June 28, 2014		December 28, 2013
Exercise of options outstanding		226,400		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		155,714		189,576
Total		701,214		800,576