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Note 7 - Earnings Per Share

9 Months Ended

Nov. 28, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

7. EARNINGS PER SHARE

Basic earnings per share are computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share are computed by dividing net earnings by the sum of (a) the weighted average number of shares of common stock outstanding during the period and (b) the potentially dilutive securities outstanding during the period. Stock options are the only potentially dilutive securities; and the number of dilutive options is computed using the treasury stock method.

The following table sets forth the calculation of basic and diluted earnings per share:

		13 Weeks Ended								39 Weeks Ended
		November 28, 2021				November 29, 2020				November 28, 2021				November 29, 2020
Net earnings - continuing operations		$	1,741			$	1,037			$	6,508			$	4,160
Net loss - discontinued operations			-				(116	)			-				(328	)
Net earnings		$	1,741			$	921			$	6,508			$	3,832
Weighted average common shares outstanding for basic EPS			20,450				20,381				20,410				20,388
Net effect of dilutive options			53				53				156				54
Weighted average shares outstanding for diluted EPS			20,503				20,434				20,566				20,442
Basic earnings per share - continuing operations		$	0.09			$	0.05			$	0.32			$	0.20
Basic loss per share - discontinued operations			-				-				-				(0.01	)
Basic earnings per share		$	0.09			$	0.05			$	0.32			$	0.19
Diluted earnings per share - continuing operations		$	0.08			$	0.05			$	0.32			$	0.20
Diluted loss per share - discontinued operations			-				-				-				(0.01	)
Diluted earnings per share		$	0.08			$	0.05			$	0.32			$	0.19

Potentially dilutive securities, which were not included in the computation of diluted earnings per share, because either the effect would have been anti-dilutive or the options’ exercise prices were greater than the average market price of the common stock, were 322,000 and 471,000 for the 13 weeks ended November 28, 2021 and November 29, 2020, respectively, and 221,000 and 457,000 for the 39 weeks ended November 28, 2021 and November 29, 2020, respectively.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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