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Earnings Per Share
 6 Months Ended
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.