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Note 4 - Earnings Per Share

6 Months Ended

Mar. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4

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 service share 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 30, 2024
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount
		(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders		$	13,329				19,380			$	0.69

Effect of dilutive securities
RSU's and options			-				38				-

Diluted EPS
Net earnings available to common stockholders plus assumed conversions		$	13,329				19,418			$	0.69

213,851 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 30, 2024.

		Six months ended March 30, 2024
		Income				Shares				Per Share
		(Numerator)				(Denominator)				Amount
		(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders		$	20,611				19,362			$	1.06

Effect of dilutive securities
RSU's and options			-				49				-

Diluted EPS
Net earnings available to common stockholders plus assumed conversions		$	20,611				19,411			$	1.06

214,932 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 30, 2024.

		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.