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Note 7 - Stockholders' Equity
 6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
7
.
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
    
Six Months
  
   
Ended
    
Ended
  
   
June 30
,
    
July 1,
    
June 30
,
    
July 1,
  
   
201
8
    
2017
    
201
8
    
2017
  
Weighted average shares outstanding for basic calculation
  
 
14,519
      
14,203
    
 
14,551
      
14,196
  
Add: Effect of dilutive stock awards
  
 
-
      
-
    
 
-
      
-
  
                                 
Weighted average shares outstanding, adjusted for diluted calculation
  
 
14,519
      
14,203
    
 
14,551
      
14,196
  
 
In both the current
three
and
six
month periods ended
June 30, 2018
and prior
three
and
six
month periods ended
July 1, 2017,
the dilutive effect of stock options was
not
recognized since we had net losses. Approximately
63,000
shares and
993,000
shares in
2018
and
2017,
respectively, were issuable upon the exercise of stock options, which were
not
included in the diluted per share calculation because they were anti-dilutive. Also,
205,000
shares and
462,000
shares in
2018
and
2017,
respectively, of restricted stock were
not
included because they were anti-dilutive.
 
From time to time, we will repurchase common shares that are tendered by recipients of restricted stock awards to satisfy tax withholding obligations on vested restricted stock. There were
no
such repurchases during the current
three
-month period.
 
In 
July 2012, 
the Board authorized the purchase of up to 
$5.0
 million of our common stock.  These repurchases 
may 
be made from time to time in the open market, in privately negotiated transactions, or otherwise, at prices the Company deems appropriate.  In the
three
month period ended
June 30, 2018,
we repurchased
46,556
shares for
$30,000
resulting in total repurchases for the
six
month period ended
June 30, 2018
to
221,121
shares for
$133,000.
No
shares were repurchased in the prior year
three
or
six
month period ended
July 1, 2017.
As of 
June 30, 2018, 
we have approximately 
$2.8
 million remaining on this authorization to repurchase our common stock.
 
A reconciliation of the activity in Stockholders’ Equity accounts for the
six
months ended
June 30, 2018
is as follows (in thousands):
 
                           
Accumulated
  
     
 
    
Capital in
      
 
    
Other
  
   
Common
    
Excess of
    
Retained
    
Comprehensive
  
   
Stock
    
Par Value
    
Deficit
    
Loss
  
Balance at December 31, 2017
   $
298
     $
17,104
     $
(2,495
 )   $
(2,422
 )
Net loss
    
-
      
-
      
(3,054
 )    
-
  
Settlement of employee benefit obligations directly related to the disposal transaction
    
-
      
-
      
-
      
2,422
  
Stock repurchase
    
(4
 )    
(129
 )    
-
      
-
  
Stock-based compensation expense
    
-
      
405
      
-
      
-
  
Dividends
    
-
      
(139
 )    
-
      
-
  
Balance at June 30, 2018
  
$
294
    
$
17,241
    
$
(5,549
)
  
$
-
  
 
Stock compensation expense of
$391,000
for the
six
months ended
June 30, 2018
was related to discontinued operations while
$14,000
was related to continuing operations. Dividends of
$139,000
for the
six
months ended
June 30, 2018
were related to discontinued operations.