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Note 7 - Earnings Per Share
 6 Months Ended
Aug. 28, 2016
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
 
 
26 Weeks Ended
 
 
 
August 28,
2016
 
 
August 30,
2015
 
 
August 28,
2016
 
 
August 30,
2015
 
                                 
Net earnings
 
$
1,981
 
 
$
4,569
 
 
$
4,931
 
 
$
9,346
 
                                 
Weighted average common shares
outstanding for basic EPS
     20,235       20,337       20,235       20,442  
Net effect of dilutive options
     -       3       -       11  
Weighted average shares
outstanding for diluted EPS
 
 
20,235
 
 
 
20,340
 
 
 
20,235
 
 
 
20,453
 
                                 
Basic earnings per share
 
$
0.10
 
 
$
0.23
 
 
$
0.24
 
 
$
0.46
 
                                 
Diluted earnings per share
 
$
0.10
 
 
$
0.23
 
 
$
0.24
 
 
$
0.46
 
 
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 882,000 and 926,000 for the 13 weeks ended August 28, 2016 and August 30, 2015, respectively, and 953,000 and 812,000 for the 26 weeks ended August 28, 2016 and August 30, 2015, respectively.