Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Earnings Per Common Share

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Note 8 - Earnings Per Common Share
3 Months Ended
Apr. 01, 2018
Notes to Financial Statements  
Earnings Per Share [Text Block]
8.
Earnings per common share
 
The following table details the weighted average number of common shares outstanding for the purposes of computing basic and diluted earnings per common share for the following periods:
 
   
Three months ended
 
(Number of common shares)
 
April
1
, 201
8
   
April
2
, 201
7
 
Basic weighted average shares outstanding
   
17,041,504
     
16,660,900
 
Dilutive stock awards
(a)
(b)
   
482,386
     
 
Diluted weighted average shares outstanding
   
17,523,890
     
16,660,900
 
 
(a)
For the
three
months ended
April 1, 2018,
as a result of net income for the period, dilutive earnings per share were calculated using the treasury stock method. The dilutive stock awards have been calculated as
482,386
 for the
three
months ended
April 1, 2018
related to outstanding unvested restricted stock units and incremental in-the-money stock options.
 
(b)
For the
three
months ended
April 2, 2017,
as a result of net losses for the periods, dilutive earnings per share were calculated using the basic weighted average shares outstanding as the effect of potential common shares would have been anti-dilutive. Had there been net income for the periods, dilutive stock awards would have been calculated as
887,138
for the
three
months ended
April 2, 2017,
respectively related to outstanding unvested restricted stock units and incremental in-the-money stock options.