Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 12 Months Ended
Dec. 29, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
 
2012
 
2011
 
2010
Numerator:
 
 
 
 
 
Net income
$
4,234,912

 
$
5,797,160

 
$
4,033,823

Denominator:
 

 
 

 
 

Denominator for basic earnings per share - weighted average shares
6,341,856

 
6,313,418

 
6,282,497

Effect of dilutive securities:
 

 
 

 
 

Employee stock options and stock grants
52,488

 
48,670

 
26,701

Denominator for diluted earnings per share - weighted average shares
6,394,344

 
6,362,088

 
6,309,198

 
 
 
 
 
 
Earnings per share:
 

 
 

 
 

Basic
$
0.67

 
$
0.92

 
$
0.64

Diluted
$
0.66

 
$
0.91

 
$
0.64


The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had weighted average shares of common stock of 231,200 in 2012, 139,484 in 2011 and 63,184 in 2010, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.