Note 15 - Net Income Per Share

12 Months Ended

Dec. 28, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

(15) Net Income Per Share

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights. Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive. Had there been a profit in 2024, the dilutive effect would have been 25,905 shares.

The following table presents the calculation of both basic and diluted EPS:

	Dec. 28,			Dec. 30,
	2024			2023
Basic EPS Computation:
Numerator:
Net income (loss)	$	(3,135,449	)	$	1,370,296
Denominator:
Weighted average
Common shares
Outstanding		14,522,513			14,495,709
Basic EPS	$	(0.22	)	$	0.09
Diluted EPS Computation:
Numerator:
Net income (loss)	$	(3,135,449	)	$	1,370,296
Denominator:
Weighted average
Common shares
Outstanding		14,522,513			14,495,709
Dilutive effect of stock options		-			133,102
Total shares		14,522,513			14,628,811
Diluted net income per share	$	(0.22	)	$	0.09