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Note 3 - Earnings Per Common Share | 6 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Earnings Per Share [Text Block] |
3. | Earnings per Common Share
Earnings per share for the three and six months ended September 30, 2023 and October 1, 2022 are as follows (in thousands, except per share amounts):
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, |  |  | October 1, |  |  | September 30, |  |  | October 1, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 24,779 |  |  | $ | 16,131 |  |  | $ | 47,890 |  |  | $ | 21,234 |
Deduct preferred stock dividends paid |  |  | 6 |  |  |  | 6 |  |  |  | 12 |  |  |  | 12 |
Undistributed net earnings |  |  | 24,773 |  |  |  | 16,125 |  |  |  | 47,878 |  |  |  | 21,222 |
Earnings attributable to participating preferred |  |  | 28 |  |  |  | 65 |  |  |  | 53 |  |  |  | 85 |
Earnings attributable to common shareholders |  | $ | 24,745 |  |  | $ | 16,060 |  |  | $ | 47,825 |  |  | $ | 21,137 |
Weighted average common shares outstanding |  |  | 7,445 |  |  |  | 7,836 |  |  |  | 7,521 |  |  |  | 7,995 |
Basic earnings per common share |  | $ | 3.32 |  |  | $ | 2.05 |  |  | $ | 6.36 |  |  | $ | 2.64 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings attributable to common shareholders |  | $ | 24,745 |  |  | $ | 16,060 |  |  | $ | 47,825 |  |  | $ | 21,137 |
Add dividends on convertible preferred stock |  |  | 5 |  |  |  | 5 |  |  |  | 10 |  |  |  | 10 |
Earnings attributable to common stock on a diluted basis |  | $ | 24,750 |  |  | $ | 16,065 |  |  | $ | 47,835 |  |  | $ | 21,147 |
Weighted average common shares outstanding-basic |  |  | 7,445 |  |  |  | 7,836 |  |  |  | 7,521 |  |  |  | 7,995 |
Additional shares issued related to the equity compensation plan |  |  | 3 |  |  |  | 3 |  |  |  | 3 |  |  |  | 3 |
Additional shares to be issued under full conversion of preferred stock |  |  | 67 |  |  |  | 67 |  |  |  | 67 |  |  |  | 67 |
Total shares for diluted |  |  | 7,515 |  |  |  | 7,906 |  |  |  | 7,591 |  |  |  | 8,065 |
Diluted earnings per common share |  | $ | 3.29 |  |  | $ | 2.03 |  |  | $ | 6.30 |  |  | $ | 2.62 |

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