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Note 5

9 Months Ended

Jun. 25, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 5

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 25, 2022
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount

		(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders		$	15,563				19,174			$	0.81

Effect of dilutive securities
Options			-				60				-

Diluted EPS
Net earnings available to common stockholders plus assumed conversions		$	15,563				19,234			$	0.81

382,431 anti-dilutive shares have been excluded in the computation of EPS for the three months ended June 25, 2022.

		Nine Months ended June 25, 2022
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount

		(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders		$	29,925				19,131			$	1.56

Effect of dilutive securities
Options			-				67				-

Diluted EPS
Net earnings available to common stockholders plus assumed conversions		$	29,925				19,198			$	1.56

302,674 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 25, 2022.

		Three Months Ended June 26, 2021
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount

		(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders		$	28,893				19,045			$	1.52

Effect of dilutive securities
Options			-				140				-

Diluted EPS
Net earnings available to common stockholders plus assumed conversions		$	28,893				19,185			$	1.51

20,800 anti-dilutive shares have been excluded in the computation of EPS for the three months ended June 26, 2021.

		Nine Months Ended June 26, 2021
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount

		(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders		$	36,732				18,996			$	1.93

Effect of dilutive securities
Options			-				120				-

Diluted EPS
Net earnings available to common stockholders plus assumed conversions		$	36,732				19,116			$	1.92

289,692 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 26, 2021.