Earnings Per Share

9 Months Ended

Dec. 26, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

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 26, 2020		December 28, 2019		December 26, 2020		December 28, 2019
Net income	$	19,701	$	20,898	$	51,424	$	63,065
Weighted average shares outstanding:
Basic	9,190,254		9,138,202		9,182,491		9,120,241
Effect of dilutive securities	105,299		155,739		102,747		138,962
Diluted	9,295,553		9,293,941		9,285,238		9,259,203
Net income per share:
Basic	$	2.14	$	2.29	$	5.60	$	6.91
Diluted	$	2.12	$	2.25	$	5.54	$	6.81

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three months ended December 26, 2020 and December 28, 2019 were 26,601 and 14,482, respectively. Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the nine months ended December 26, 2020 and December 28, 2019 were 26,357 and 29,971, respectively. In addition, outstanding restricted share awards excluded from the calculation of diluted earnings per share because the underlying performance criteria had not been met were 14,405 for the three and nine months ended December 26, 2020, and 7,305 for the three and nine months ended December 28, 2019.