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Note 4
 3 Months Ended
Dec. 25, 2021
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 25, 2021

 
  

Income

  

Shares

  

Per Share

 
  

(Numerator)

  

(Denominator)

  

Amount

 
             
  

(in thousands, except per share amounts)

 

Basic EPS

            

Net Earnings available to common stockholders

 $11,091   19,085  $0.58 
             

Effect of Dilutive Securities

            

Options

  -   68   - 
             

Diluted EPS

            

Net Earnings available to common stockholders plus assumed conversions

 $11,091   19,153  $0.58 

 

318,172 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 25, 2021.

 

  

Three Months Ended December 26, 2020

 
  

Income

  

Shares

  

Per Share

 
  

(Numerator)

  

(Denominator)

  

Amount

 
             
  

(in thousands, except per share amounts)

 

Basic EPS

            

Net Earnings available to common stockholders

 $1,778   18,935  $0.09 
             

Effect of Dilutive Securities

            

Options

  -   96   - 
             

Diluted EPS

            

Net Earnings available to common stockholders plus assumed conversions

 $1,778   19,031  $0.09 

 

187,722 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 26, 2020.