Earnings Per Share

3 Months Ended

Jun. 30, 2018

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
	June 30, 2018		July 1, 2017
Net income	$	19,691	$	11,753
Weighted average shares outstanding:
Basic	9,048,579		9,006,999
Common stock equivalents—treasury stock method	218,469		155,492
Diluted	9,267,048		9,162,491
Net income per share:
Basic	$	2.18	$	1.30
Diluted	$	2.12	$	1.28

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three months ended June 30, 2018 and July 1, 2017 were 1,268 and 10,973, respectively.

Earnings Per Share, Policy [Policy Text Block]