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Note 5 - Earnings Per Share | 6 Months Ended
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Mar. 25, 2023
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 March 25, 2023 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 6,871 |  |  |  | 19,238 |  |  | $ | 0.36 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
RSU's and options |  |  | - |  |  |  | 57 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders plus assumed conversions |  | $ | 6,871 |  |  |  | 19,295 |  |  | $ | 0.36 |
381,735 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 25, 2023.
|  | Six months ended March 25, 2023 |
|  | Income |  |  | Shares |  |  | Per Share |
|  | (Numerator) |  |  | (Denominator) |  |  | Amount |
|  | (in thousands, except per share amounts) |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 13,504 |  |  |  | 19,230 |  |  | $ | 0.70 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
RSU's and options |  |  | - |  |  |  | 55 |  |  |  | - |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders plus assumed conversions |  | $ | 13,504 |  |  |  | 19,285 |  |  | $ | 0.70 |
386,510 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 25, 2023.
|  | 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 |  |  |  |  |  |  |  |  |  |  |  |
RSU's and 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 |  |  |  |  |  |  |  |  |  |  |  |
RSU's and 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.

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