Earnings Per Share

6 Months Ended

Jul. 01, 2017

Net income per common share:

Earnings Per Share

Note 7: Earnings Per Share

Basic earnings per common share has been computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted earnings per common share for the periods ended July 1, 2017 and July 2, 2016 have been computed by dividing net income (loss) by the weighted average number of common shares outstanding and common stock equivalents, which include options outstanding during the same period. Not included in the calculation for July 1, 2017 and July 2, 2016 were 80,000 non-qualified options granted to directors that were antidilutive because the market price of the common stock as of July 1, 2017 and July 2, 2016 was less than the exercise prices of any of these options.

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

	Thirteen Weeks Ended July 1, 2017		Thirteen Weeks Ended July 2, 2016		Twenty-six Weeks Ended July 1, 2017		Twenty-six Weeks Ended July 2, 2016
Numerator
Net income-basic and diluted	$	270	$	194	$	97	$	324
Denominator
Basic earnings per share weighted average shares		5,153,706		5,153,706		5,153,706		5,153,706
Diluted earnings per share weighted average shares		5,153,706		5,153,706		5,153,706		5,153,706
Income per common share
Basic and diluted	$	0.05	$	0.04	$	0.02	$	0.06