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Earnings per Common Share
 9 Months Ended
Dec. 28, 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

Nine Months Ended

(thousands, except per share data)

December 28, 2024

December 23, 2023

December 28, 2024

December 23, 2023

Numerator for earnings per common share calculation:

Net income

$

4,583 

$

12,170 

$

16,093 

$

33,871 

Less: Preferred stock dividends

(337)

(337)

(1,012)

(804)

Income available to common shareholders

$

4,246 

$

11,833 

$

15,081 

$

33,067 

Denominator for earnings per common share calculation:

Weighted average common shares - basic

29,949 

30,934 

29,933 

31,263 

Effect of dilutive securities:

Preferred stock

1,205 

1,205 

1,205 

815 

Restricted stock

119 

49 

83 

64 

Weighted average common shares - diluted

31,273 

32,188 

31,221 

32,142 

Basic earnings per common share

$

0.15 

$

0.38 

$

0.52 

$

1.06 

Diluted earnings per common share

$

0.15 

$

0.38 

$

0.52 

$

1.05 

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