Earnings Per Share

3 Months Ended

Jun. 02, 2013

Earnings Per Share [Abstract]

Earnings Per Share

7. 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 June 2, 2013 and May 27, 2012.

		13 Weeks Ended
		June 2, 2013		May 27, 2012
Net Earnings	$	4,929	$	4,933
Weighted average common shares
outstanding for basic EPS		20,828		20,796
Net effect of dilutive options		16		53
Weighted average shares
outstanding for diluted EPS		20,844		20,849
Basic earnings per share	$	0.24	$	0.24
Diluted earnings per share	$	0.24	$	0.24

Common stock equivalents, which were not included in the computation of diluted earnings per share because either the effect would have been anti-dilutive or the options' exercise prices were greater than the average market price of the common stock, were approximately 720 and 146 for the 13 weeks ended June 2, 2013 and May 27, 2012, respectively.