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Note 4 | 3 Months Ended
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Dec. 28, 2019
Notes to Financial Statements |
Earnings Per Share [Text Block] |
Note 4 | Basic earnings per common share (EPS) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. Diluted EPS takes into consideration the potential dilution that could occur if securities (stock options) or other contracts to issue common stock were exercised and converted into common stock. Our calculation of EPS is as follows:
|  | Three Months Ended December 28, 2019 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders |  | $ | 17,059 |  |  |  | 18,898 |  |  | $ | 0.90 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 246 |  |  |  | (0.01 | )
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders plus assumed conversions |  | $ | 17,059 |  |  |  | 19,144 |  |  | $ | 0.89 |
20,000 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 28, 2019
|  | Three Months Ended December 29, 2018 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders |  | $ | 17,526 |  |  |  | 18,765 |  |  | $ | 0.93 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 132 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders plus assumed conversions |  | $ | 17,526 |  |  |  | 18,897 |  |  | $ | 0.93 |
500 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 29, 2018

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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