Note 6 - Stockholders' Equity

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

6

.

            

Stockholders’ Equity

Basic earnings per common share are based upon the weighted average shares outstanding. Outstanding stock options

and restricted stock are treated as potential common stock for purposes of computing diluted earnings per share. Basic and diluted earnings per share are calculated using the following share data (in thousands):

	Three Months				Nine Months
	Ended				Ended
	Sept. 30 ,		Oct. 1 ,		Sept. 30 ,		Oct. 1 ,
	201 7		201 6		201 7		201 6
Weighted average shares outstanding for basic calculation		14,220		14,094		14,203		14,143
Add: Effect of dilutive stock awards		-		-		-		-
Weighted average shares outstanding, adjusted for diluted calculation		14,220		14,094		14,203		14,143

In the

three

and

nine

month periods ending

September 30, 2017

and the

three

and

nine

month periods ending

October 1, 2016,

the dilutive effect of equity awards was

not

recognized since we had a net loss. Approximately

944,000

shares in the

three

and

nine

month periods of

2017

were issuable upon the exercise of stock options. These were

not

included in the diluted per share calculation because they were anti-dilutive. Also,

864,000

shares of restricted stock were

not

included in

2017

because they were anti-dilutive. In the

three

and

nine

month periods ended

October 1, 2016,

approximately

1.2

million of stock options and

638,000

shares of restricted stock were excluded from the diluted per share calculation as they would be anti-dilutive.

A reconciliation of the activity in

stockholders’ equity accounts for the

first

nine

months ended

September 30, 2017

is as follows (in thousands):

									Accumulated
			Capital in						Other
	Common		Excess of			Retained			Comprehensive
	Stock		Par Value			Earnings			Loss
Balance at December 31, 2016	$	275	$	16,840		$	5,129		$	(2,262	)
Net loss		-		-			(707	)		-
Dividend payable adjustment due to restricted share forfeitures		-		-			134			-
Stock-based compensation		-		(23	)		-			-
Adjustment to net periodic benefit cost		-		-			-			81
Balance at September 30, 2017	$	275	$	16,817		$	4,556		$	(2,181	)