Earnings Per Share

6 Months Ended

Sep. 26, 2015

Earnings Per Share [Abstract]

Earnings Per Share, Policy [Policy Text Block]

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method.

Earnings Per Share

Earnings Per Share

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	September 26, 2015		September 27, 2014		September 26, 2015		September 27, 2014
Net income	$	8,070	$	5,467	$	13,455	$	11,226
Weighted average shares outstanding:
Basic	8,878,075		8,852,860		8,870,862		8,850,509
Common stock equivalents—treasury stock method	154,577		161,663		155,362		162,917
Diluted	9,032,652		9,014,523		9,026,224		9,013,426
Net income per share:
Basic	$	0.91	$	0.62	$	1.52	$	1.27
Diluted	$	0.89	$	0.61	$	1.49	$	1.25

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three and six months ended September 26, 2015 were 18,962 and 23,052, respectively. There were 4,241 and 1,641 anti-dilutive common stock equivalents excluded for the three and six months ended September 27, 2014, respectively.