Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 12 Months Ended
Dec. 28, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
 
2013
 
2012
 
2011
Numerator:
 
 
 
 
 
Net income
$
1,760,564

 
$
4,234,912

 
$
5,797,160

Denominator:
 

 
 

 
 

Denominator for basic earnings per share - weighted average shares
6,941,794

 
6,341,856

 
6,313,418

Effect of dilutive securities:
 

 
 

 
 

Employee stock options and stock grants
5,610

 
52,488

 
48,670

Denominator for diluted earnings per share - weighted average shares
6,947,404

 
6,394,344

 
6,362,088

 
 
 
 
 
 
Earnings per share:
 

 
 

 
 

Basic
$
0.25

 
$
0.67

 
$
0.92

Diluted
$
0.25

 
$
0.66

 
$
0.91


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 161,084 in 2013, 231,200 in 2012 and 139,484 in 2011, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.