Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
 3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Income Statement [Abstract]    
Revenues $ 9,324,000 $ 8,672,000
Cost of revenues 7,471,000 7,251,000
Gross profit 1,853,000 1,421,000
Operating expenses:    
Selling, general and administrative expenses 2,945,000 3,530,000
Operating loss (1,092,000) (2,109,000)
Other income (expense):    
Interest income (expense), net (192,000) (73,000)
Gain on Payroll Protection Program loan forgiveness 0 1,872,000
Gain on litigation settlement, net 1,835,000 0
Gain on settlement of vendor advance payments 0 810,000
Gain on reversal of contingency loss 637,000 0
Other income, net 26,000 0
Total other income (expense), net 2,306,000 2,609,000
Income from operations before provision for income taxes 1,214,000 500,000
Provision (benefit) for income tax 3,000 (2,000)
Net income $ 1,211,000 $ 502,000
Dividends declared - Series A-1 preferred stock $ 0 $ 0
Dividends declared - Common stock 0 0
Net income per share:    
Basic income per share 0.43 0.26
Diluted income per share $ 0.37 $ 0.24
Weighted average common shares outstanding:    
Basic 2,827,410 1,922,673
Diluted 3,274,123 2,070,036
Net income $ 1,211,000 $ 502,000
Other comprehensive loss, net of tax:    
Total other comprehensive loss, net of tax (41,000) (42,000)
Effect of foreign currency translation adjustments (41,000) (42,000)
Comprehensive income $ 1,170,000 $ 460,000