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Earnings Per Common Share
 12 Months Ended
Sep. 29, 2012
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

9. Earnings Per Common Share

 

The Company calculates earnings per share using the two-class method in accordance with FASB ASC Topic 260.

 

The two-class method of computing basic earnings per share for each period reflects the cash dividends paid per share for each class of stock, plus the amount of allocated undistributed earnings per share computed using the participation percentage which reflects the dividend rights of each class of stock. Diluted earnings per share is calculated assuming the conversion of all shares of Class B Common Stock to shares of Class A Common Stock on a share-for-share basis. The tables below reconcile the numerators and denominators of basic and diluted earnings per share for current and prior periods.

 

                 
    Year Ended
September 29, 2012		  
    Class A     Class B  

Numerator: Allocated net income

                

Net income allocated, basic

   $ 24,151,777     $ 19,292,566  

Conversion of Class B to Class A shares

     19,292,566       —    
   

 

 

    

 

 

  

Net income allocated, diluted

   $ 43,444,343     $ 19,292,566  
   

 

 

    

 

 

  

Denominator: Weighted average shares outstanding

                

Weighted average shares outstanding, basic

     12,936,583       11,364,899  

Conversion of Class B to Class A shares

     11,364,899       —    
   

 

 

    

 

 

  

Weighted average shares outstanding, diluted

     24,301,482       11,364,899  
   

 

 

    

 

 

  

Earnings per share

                

Basic

   $ 1.87     $ 1.70  
   

 

 

    

 

 

  

Diluted

   $ 1.79     $ 1.70  
   

 

 

    

 

 

  

 

                                 
    Year Ended
September 24, 2011		     Year Ended
September 25, 2010		  
    Class A     Class B     Class A     Class B  

Numerator: Allocated net income

                                

Net income allocated, basic

   $ 21,540,808     $ 17,518,702     $ 16,961,816     $ 13,880,373  

Conversion of Class B to Class A shares

     17,518,702       —         13,880,373       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income allocated, diluted

   $ 39,059,510     $ 17,518,702     $ 30,842,189     $ 13,880,373  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator: Weighted average shares outstanding

                                

Weighted average shares outstanding, basic

     12,905,408       11,542,049       12,888,828       11,601,562  

Conversion of Class B to Class A shares

     11,542,049       —         11,601,562       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average shares outstanding, diluted

     24,447,457       11,542,049       24,490,390       11,601,562  
   

 

 

    

 

 

    

 

 

    

 

 

  

Earnings per share

                                

Basic

   $ 1.67     $ 1.52     $ 1.32     $ 1.20  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

   $ 1.60     $ 1.52     $ 1.26     $ 1.20