Note 7 - Earnings Per Share

6 Months Ended

Sep. 01, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

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 and 26 weeks ended September 1, 2013 and August 26, 2012.

	13 Weeks Ended				26 Weeks Ended
	September 1, 2013		August 26, 2012		September 1, 2013		August 26, 2012
Net Earnings	$	8,045	$	3,246	$	12,974	$	8,179
Weighted average common shares outstanding for basic EPS		20,836		20,800		20,832		20,798
Net effect of dilutive options		16		19		16		36
Weighted average shares outstanding for diluted EPS		20,852		20,819		20,848		20,834
Basic earnings per share	$	0.39	$	0.16	$	0.62	$	0.39
Diluted earnings per share	$	0.39	$	0.16	$	0.62	$	0.39

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 267 and 271 for the 13 weeks ended September 1, 2013 and August 26, 2012, respectively, and 493 and 209 for the 26 weeks ended September 1, 2013 and August 26, 2012, respectively.