Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Earnings (Loss) Per Common Share - Common Shares Outstanding for Basic and Diluted Earnings Per Share (Details)

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Note 7 - Earnings (Loss) Per Common Share - Common Shares Outstanding for Basic and Diluted Earnings Per Share (Details) - shares
 3 Months Ended 9 Months Ended
Oct. 02, 2016
Sep. 27, 2015
Oct. 02, 2016
Sep. 27, 2015
Basic weighted average shares outstanding (in shares) 16,510,180 16,417,276 16,502,081 16,417,276
Weighted Average Number Diluted Shares Outstanding Adjustment [1],[2],[3] 1,048,074
Diluted weighted average shares outstanding (in shares) 16,510,180 16,417,276 17,550,155 16,417,276
[1] Dilutive options were determined using the treasury stock method, using an average price of $1.52 per share for three months ended October 2, 2016. As a result of the net loss for the three months ended October 2, 2016, diluted earnings per share was 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 three months ended October 2, 2016, dilutive stock awards would have been calculated as 1,046,730. For the nine months ended October 2, 2016, dilutive options were determined using the treasury stock method, using an average price of $1.47 per share. Total dilutive stock awards were calculated as 1,048,074.
[2] Dilutive stock awards include outstanding RSU’s and in-the money stock options determined using the treasury stock method
[3] For the three months and nine months ended September 27, 2015, as a result of the net loss, diluted earnings per share was 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 three and nine months ended September 27, 2015, there still would be no dilutive stock awards as no outstanding stock options were considered in the money.