Note 8 - Earnings Per Share

9 Months Ended

Nov. 27, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

8. 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 27, 2016		November 29, 2015		November 27, 2016		November 29, 2015
Net earnings	$	1,875	$	4,109	$	6,806	$	13,455
Weighted average common shares outstanding for basic EPS		20,235		20,253		20,235		20,379
Net effect of dilutive options		-		-		-		7
Weighted average shares outstanding for diluted EPS		20,235		20,253		20,235		20,386
Basic earnings per share	$	0.09	$	0.20	$	0.34	$	0.66
Diluted earnings per share	$	0.09	$	0.20	$	0.34	$	0.66

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

1,027,000

for the

13

weeks ended

November

27,

2016

and

November

29,

2015,

respectively, and

929,000

and

884,000

for the

39

weeks ended

November

27,

2016

and

November

29,

2015,

respectively.