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Earnings Per Share
 12 Months Ended
Mar. 03, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

15 Earnings Per Share

Basic earnings per share is computed by dividing net income or loss by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income or loss by the weighted average common shares outstanding, including the dilutive effects of stock options, SARs and nonvested shares. However, when the Company has a loss from continuing operations, diluted earnings per share computations are computed using basic shares. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:

 

(In thousands)

   2012      2011      2010  

Basic earnings per share – weighted common shares outstanding

      27,741         27,637         27,381   

Weighted common shares assumed upon exercise of stock options

      33         —           66   

Unvested shares for deferred compensation plans

      274         —           269   
  

 

 

     

 

 

     

 

 

  

Diluted earnings per share – weighted common shares and potential

common shares outstanding

      28,048         27,637         27,716   
  

 

 

     

 

 

     

 

 

  

Stock options excluded from the calculation of diluted earnings per share because the exercise price was greater than the average market price of common shares

      1,174         —           1,160   
  

 

 

     

 

 

     

 

 

  

Due to the net loss in fiscal 2011, there was no dilutive impact from unvested shares.