Note 7 - Earnings Per Share

12 Months Ended

Mar. 01, 2020

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 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)	2020			2019		2018
Net earnings - continuing operations	$	10,205		$	6,306	$	18,472
Net (loss) earnings - discontinued operations		(653	)		107,239		2,123
Net earnings	$	9,552		$	113,545	$	20,595
Weighted average common shares outstanding for basic EPS		20,507			20,288		20,237
Net effect of dilutive options		88			97		30
Weighted average shares outstanding for diluted EPS		20,595			20,385		20,267
Basic earnings per share - continuing operations	$	0.50		$	0.31	$	0.91
Basic (loss) earnings per share - discontinued operations		(0.03	)		5.29		0.11
Basic earnings per share	$	0.47		$	5.60	$	1.02
Diluted earnings per share - continuing operations	$	0.50		$	0.31	$	0.91
Diluted (loss) earnings per share - discontinued operations		(0.03	)		5.26		0.11
Diluted earnings per share	$	0.47		$	5.57	$	1.02

Potentially dilutive stock options, 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

132,000,

213,893

and

606,357

for the

2020,

2019

and

2018

fiscal years, respectively.