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Note 4 | 6 Months Ended
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Mar. 26, 2022
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 March 26, 2022 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 3,271 |  |  |  | 19,134 |  |  | $ | 0.17 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 72 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders plus assumed conversions |  | $ | 3,271 |  |  |  | 19,206 |  |  | $ | 0.17 |
270,352 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 26, 2022.
|  | Six Months ended March 26, 2022 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 14,362 |  |  |  | 19,110 |  |  | $ | 0.75 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 70 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders plus assumed conversions |  | $ | 14,362 |  |  |  | 19,180 |  |  | $ | 0.75 |
271,452 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 26, 2022.
|  | Three Months Ended March 27, 2021 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 6,061 |  |  |  | 19,006 |  |  | $ | 0.32 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 124 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders plus assumed conversions |  | $ | 6,061 |  |  |  | 19,130 |  |  | $ | 0.32 |
163,072 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 27, 2021.
|  | Six Months Ended March 27, 2021 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 7,839 |  |  |  | 18,971 |  |  | $ | 0.41 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | - |  |  |  | 110 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders plus assumed conversions |  | $ | 7,839 |  |  |  | 19,081 |  |  | $ | 0.41 |
184,672 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 27, 2021.

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