Note 7 - Earnings Per Common Share

9 Months Ended

Jul. 02, 2011

Earnings Per Share [Text Block]

7. NET INCOME PER COMMON SHARE

     The following table sets forth the computation of basic and diluted earnings per share.

	Three Months Ended				Nine Months Ended
	July 2, 2011		July 3, 2010		July 2, 2011		July 3, 2010
Numerator for basic and diluted earnings per share:
Net income	$	1,022,447	$	945,275	$	2,789,447	$	3,315,356
Denominator:
Denominator for basic earnings per share:
Weighted average shares		2,789,074		2,746,268		2,772,257		2,731,087
Effect of dilutive securities:
Employee stock options and restricted stock		54,045		106,908		64,452		111,270
Denominator for diluted earnings per share:
Adjusted weighted average shares      and assumed conversions		2,843,119		2,853,176		2,836,709		2,842,357
Net income per common share:
Basic	$	0.37	$	0.34	$	1.01	$	1.21
Diluted	$	0.36	$	0.33	$	0.98	$	1.17