Earnings Per Share

9 Months Ended

Dec. 29, 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				Nine Months Ended
	December 29, 2018		December 30, 2017		December 29, 2018		December 30, 2017
Net income	$	13,384	$	21,427	$	48,651	$	39,362
Weighted average shares outstanding:
Basic	9,097,993		9,030,100		9,075,156		9,019,311
Common stock equivalents—treasury stock method	172,227		184,798		207,022		166,731
Diluted	9,270,220		9,214,898		9,282,178		9,186,042
Net income per share:
Basic	$	1.47	$	2.37	$	5.36	$	4.36
Diluted	$	1.44	$	2.33	$	5.24	$	4.28

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three and nine months ended December 29, 2018 were 21,894 and 8,115, respectively. There were 4,941 and 5,549 anti-dilutive common stock equivalents excluded for the three and nine months ended December 30, 2017, respectively.

Earnings Per Share, Policy [Policy Text Block]