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Note 7 - Earnings Per Share
 9 Months Ended
Nov. 29, 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 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 29,
2020
    
December 1,
2019
    
November 29,
2020
    
December 1,
2019
  
                                 
Net earnings - continuing operations
  
$
1,037
    
$
2,806
    
$
4,160
    
$
7,572
  
Net loss - discontinued operations
  
 
(116
)
  
 
(360
)
  
 
(328
)
  
 
(404
)
Net earnings
  
$
921
    
$
2,446
    
$
3,832
    
$
7,168
  
                                 
Weighted average common shares outstanding for basic EPS
    
20,381
      
20,518
      
20,388
      
20,503
  
Net effect of dilutive options
    
53
      
99
      
54
      
98
  
Weighted average shares outstanding for diluted EPS
  
 
20,434
    
 
20,617
    
 
20,442
    
 
20,601
  
                                 
Basic earnings per share - continuing operations
   $
0.05
     $
0.14
     $
0.20
     $
0.37
  
Basic loss per share - discontinued operations
    
0.00
      
(0.02
 )    
(0.01
 )    
(0.02
 )
Basic earnings per share
  
$
0.05
    
$
0.12
    
$
0.19
    
$
0.35
  
                                 
Diluted earnings per share - continuing operations
   $
0.05
     $
0.14
     $
0.20
     $
0.37
  
Diluted loss per share - discontinued operations
    
0.00
      
(0.02
 )    
(0.01
 )    
(0.02
 )
Diluted earnings per share
  
$
0.05
    
$
0.12
    
$
0.19
    
$
0.35
  
 
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
471,000
and
76,000
for the
13
weeks ended
November 29, 2020
and
December 1, 2019,
respectively, and
457,000
and
115,000,
respectively, for the
39
weeks ended
November 29, 2020
and
December 1, 2019,
respectively.