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Note 5 - Earnings Per Share

3 Months Ended

Dec. 24, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 5

Earnings per Share

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 and restricted stock units (“RSU”)’s) 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 24, 2022
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount
		(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders		$	6,633				19,222			$	0.35

Effect of Dilutive Securities
RSU’s and Options			-				52				(0.01	)

Diluted EPS
Net Earnings available to common stockholders plus assumed conversions		$	6,633				19,274			$	0.34

394,077 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 24, 2022.

		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
RSU’s and 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.