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Note 7 - Earnings Per Share
 9 Months Ended
Nov. 25, 2018
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 that have been issued by the Company; 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 25, 2018
    
November 26, 2017
    
November 25, 2018
    
November 26, 2017
  
                                 
Net earnings - continuing operations
  
$
2,078
   
$
344
   
$
4,718
   
$
1,275
 
Net earnings - discontinued operations
  
 
1,613
   
 
372
   
 
4,841
   
 
1,355
 
Net earnings
  
$
3,691
   
$
716
   
$
9,559
   
$
2,630
 
                                 
Weighted average common shares outstanding for basic EPS
    
20,278
      
20,237
      
20,258
      
20,236
  
Net effect of dilutive options
    
74
      
24
      
85
      
16
  
Weighted average shares outstanding for diluted EPS
  
 
20,352
    
 
20,261
   
 
20,343
   
 
20,252
 
                                 
Basic earnings per share - continuing operations
    
0.10
      
0.02
      
0.23
      
0.06
  
Basic earnings per share - discontinued operations
    
0.08
      
0.02
      
0.24
      
0.07
  
Basic earnings per share
  
$
0.18
   
$
0.04
   
$
0.47
   
$
0.13
 
                                 
Diluted earnings per share - continuing operations
    
0.10
      
0.02
      
0.23
      
0.06
  
Diluted earnings per share - discontinued operations
    
0.08
      
0.02
      
0.24
      
0.07
  
Diluted earnings per share
  
$
0.18
   
$
0.04
   
$
0.47
   
$
0.13
 
 
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
145,000
and
599,000
for the
13
weeks ended
November 25, 2018
and
November 26, 2017,
respectively, and
279,000
and
728,000
for the
39
weeks ended
November 25, 2018
and
November 26, 2017,
respectively.