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Earnings per Common Share
 3 Months Ended
Jun. 29, 2024
Earnings per Common Share [Abstract]  
Earnings per Common Share Note 3 – Earnings per Common Share

Basic earnings per common share amounts are calculated by dividing income available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted earnings per common share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.

Earnings per Common Share

Three Months Ended

(thousands, except per share data)

June 29, 2024

June 24, 2023

Numerator for earnings per common share calculation:

Net income

$

5,863 

$

8,829 

Less: Preferred stock dividends

(337)

(129)

Income available to common shareholders

$

5,526 

$

8,700 

Denominator for earnings per common share calculation:

Weighted average common shares - basic

29,916 

31,415 

Effect of dilutive securities:

Preferred stock

1,205 

460 

Stock options

—

1 

Restricted stock

98 

78 

Weighted average common shares - diluted

31,219 

31,954 

Basic earnings per common share

$

0.19 

$

0.28 

Diluted earnings per common share

$

0.19 

$

0.28 

Weighted average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.