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Earnings Per Share | 6 Months Ended
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Sep. 24, 2016
Earnings Per Share |
Earnings Per Share | 11. Earnings Per Share Earnings per share is computed under the provisions of FASB ASC Topic 260, Earnings Per Share. Basic earnings per share is computed based on the weighted average number of outstanding shares of common stock during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method, whereby proceeds from such exercise, unamortized compensation and hypothetical excess tax benefits, if any, on share-based awards, are assumed to be used by the Company to purchase the common shares at the average market price during the period. The dilutive effect of stock options and restricted stock is applicable only in periods of net income. The components of basic and diluted earnings per share of common stock, in aggregate, for the thirteen and twenty-six weeks ended September 24, 2016 and September 26, 2015 are as follows:
|  | Thirteen Weeks Ended |  | Twenty-Six Weeks Ended |
|  | September 24, |  | September 26, |  | September 24, |  | September 26, |
(in thousands, except per share data) |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Net income /(loss) |  | $ | 479 |  | $ | (3,343) |  | $ | 1,103 |  |  | (1,072) |
Weighted average basic shares outstanding |  |  | 26,427 |  |  | 26,159 |  |  | 26,400 |  |  | 26,012 |
Dilutive effect of options and restricted stock |  |  | 470 |  |  | — |  |  | 336 |  |  | — |
Weighted average diluted shares outstanding |  |  | 26,897 |  |  | 26,159 |  |  | 26,736 |  |  | 26,012 |
Basic earnings/(loss) per share |  | $ | 0.02 |  | $ | (0.13) |  | $ | 0.04 |  | $ | (0.04) |
Diluted earnings/(loss) per share |  | $ | 0.02 |  | $ | (0.13) |  | $ | 0.04 |  | $ | (0.04) |
Options to purchase 713,748 shares and 2,528,603 shares of common stock were outstanding during the thirteen weeks ended September 24, 2016 and September 26, 2015, respectively, but were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would have been anti-dilutive. Options to purchase 1,220,740 shares and 2,528,603 shares of common stock were outstanding during the twenty-six weeks ended September 24, 2016 and September 26, 2015, respectively, but were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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