Earnings Per Common Share

6 Months Ended

Mar. 24, 2012

Earnings Per Common Share [Abstract]

H. EARNINGS PER COMMON SHARE

The Company has two classes of common stock: Class A which is publicly traded, and Class B, which has no public market. The Class B Common Stock has restrictions on transfer; however, each share is convertible into one share of Class A Common Stock at any time. Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share. Each share of Class A Common Stock is entitled to receive cash dividends equal to 110% of any cash dividend paid on Class B Common Stock.

The Company calculates earnings per share for its Class A Common Stock and Class B Common Stock 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.


	Three Months Ended March 24, 2012				Six Months Ended March 24, 2012
	Class A		Class B		Class A		Class B
Numerator: Allocated net income
Net income allocated, basic	$	3,620,798	$	2,891,277	$	9,492,303	$	7,616,988
Conversion of Class B to Class A shares		2,891,277		—		7,616,988		—

Net income allocated, diluted	$	6,512,075	$	2,891,277	$	17,109,291	$	7,616,988


Denominator: Weighted average shares outstanding
Weighted average shares outstanding, basic		12,926,684		11,359,090		12,932,887		11,411,906
Conversion of Class B to Class A shares		11,359,090		—		11,411,906		—

Weighted average shares outstanding, diluted		24,285,774		11,359,090		24,344,793		11,411,906


Earnings per share
Basic	$	0.28	$	0.26	$	0.73	$	0.67

Diluted	$	0.27	$	0.26	$	0.70	$	0.67


	Three Months Ended March 26, 2011				Six Months Ended March 26, 2011
	Class A		Class B		Class A		Class B
Numerator: Allocated net income
Net income allocated, basic	$	4,255,059	$	3,466,553	$	8,467,441	$	6,906,764
Conversion of Class B to Class A shares		3,466,553		—		6,906,764		—

Net income allocated, diluted	$	7,721,612	$	3,466,553	$	15,374,205	$	6,906,764


Denominator: Weighted average shares outstanding
Weighted average shares outstanding, basic		12,890,933		11,552,326		12,890,509		11,564,223
Conversion of Class B to Class A shares		11,552,326		—		11,564,223		—

Weighted average shares outstanding, diluted		24,443,259		11,552,326		24,454,732		11,564,223


Earnings per share
Basic	$	0.33	$	0.30	$	0.66	$	0.60

Diluted	$	0.32	$	0.30	$	0.63	$	0.60

- Definition

The entire disclosure for earnings per share.

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