Earnings Per Share

12 Months Ended

Feb. 26, 2012

Earnings Per Share [Abstract]

Earnings Per Share

10. 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 potential common stock equivalents outstanding during the period. Stock options are the only common stock equivalents; 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 for the last three fiscal years:

		2012		2011		2010
Net earnings	$	23,442	$	32,621	$	25,359
Weighted average common shares
outstanding for basic EPS		20,745,559		20,627,730		20,521,697
Net effect of dilutive options		46,466		47,427		25,400
Weighted average shares
outstanding for diluted EPS		20,792,025		20,675,157		20,547,097
Basic earnings per share	$	1.13	$	1.58	$	1.24
Diluted earnings per share	$	1.13	$	1.58	$	1.23

Common stock equivalents, which were not included in the computation of diluted earnings per share because either the effect would have been antidilutive or the options' exercise prices were greater than the average market price of the common stock, were 197,000, 20,000 and 336,450 for the fiscal years 2012,2011 and 2010, respectively.