Note 7 - Earnings Per Share

9 Months Ended

Nov. 30, 2014

Notes to Financial Statements

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 potentially dilutive securities outstanding during the period. Stock options are the only potentially dilutive securities; 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:

	13 Weeks Ended				39 Weeks Ended
	November 30, 2014		December 1, 2013		November 30, 2014		December 1, 2013
Net earnings	$	2,031	$	4,721	$	15,202	$	17,695
Weighted average common shares outstanding for basic EPS		20,947		20,857		20,917		20,840
Net effect of dilutive options		42		60		85		31
Weighted average shares outstanding for diluted EPS		20,989		20,917		21,002		20,871
Basic earnings per share	$	0.10	$	0.23	$	0.73	$	0.85
Diluted earnings per share	$	0.10	$	0.23	$	0.72	$	0.85

Potentially dilutive securities, 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 315 and 139 for the 13 weeks ended November 30, 2014 and December 1, 2013, respectively, and 122 and 375 for the 39 weeks ended November 30, 2014 and December 1, 2013, respectively.