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Note 4 | 9 Months Ended
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Jun. 27, 2020
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 June 27, 2020 |
|  | Loss |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Loss available to common stockholders |  | $ | (12,647 | ) |  |  | 18,888 |  |  | $ | (0.67 | )
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | - |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Loss available to common stockholders plus assumed conversions |  | $ | (12,647 | ) |  |  | 18,888 |  |  | $ | (0.67 | )
845,977 anti-dilutive shares have been excluded in the computation of EPS for the three months ended June 27, 2020.
|  | Nine Months Ended June 27, 2020 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders |  | $ | 11,721 |  |  |  | 18,902 |  |  | $ | 0.62 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 134 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders plus assumed conversions |  | $ | 11,721 |  |  |  | 19,036 |  |  | $ | 0.62 |
169,246 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 27, 2020
|  | Three Months Ended June 29, 2019 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders |  | $ | 30,872 |  |  |  | 18,823 |  |  | $ | 1.64 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 124 |  |  |  | (0.01 | )
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders plus assumed conversions |  | $ | 30,872 |  |  |  | 18,947 |  |  | $ | 1.63 |
163,670 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 29, 2019
|  | Nine Months Ended June 29, 2019 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders |  | $ | 68,752 |  |  |  | 18,794 |  |  | $ | 3.66 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 118 |  |  |  | (0.02 | )
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net Earnings available to common stockholders plus assumed conversions |  | $ | 68,752 |  |  |  | 18,912 |  |  | $ | 3.64 |
163,670 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 29, 2019

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