Note 7 - Earnings Per Share

12 Months Ended

Mar. 02, 2014

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:

	Fiscal Year
(Amounts in thousands, except per share amounts)	2014			2013		2012
Net Earnings	$	(42,329	)	$	16,961	$	23,442
Weighted average common shares outstanding for basic EPS		20,849			20,801		20,746
Net effect of dilutive options		-			22		46
Weighted average outstanding for diluted EPS		20,849			20,823		20,792
Basic (loss) earnings per share	$	(2.03	)	$	0.82	$	1.13
Diluted (loss) earnings per share	$	(2.03	)	$	0.81	$	1.13

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 approximately 1,081,000, 423,000 and 197,000 for the 2014, 2013 and 2012 fiscal years, respectively.