Earnings Per Share

3 Months Ended

May 27, 2012

Earnings Per Share [Abstract]

Earnings Per Share

8. 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 13 weeks ended May 27, 2012 and May 29, 2011.

		13 weeks ended
		May 27, 2012		May 29, 2011
Net Earnings	$	4,933	$	7,242
Weighted average common shares
outstanding for basic EPS		20,796		20,723
Net effect of dilutive options		53		97
Weighted average shares
outstanding for diluted EPS		20,849		20,820
Basic earnings per share	$	0.24	$	0.35
Diluted earnings per share	$	0.24	$	0.35

Common stock equivalents, which were not included in the computation of diluted earnings per share because the effect would have been antidilutive as the options' exercise prices were greater than the average market price of the common stock, were 146,000 and 20,000 for the 13 weeks ended May 27, 2012 and May 29, 2011, respectively.