Note 7 - Earnings Per Share

6 Months Ended

Aug. 28, 2022

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, 2022		August 29, 2021		August 28, 2022		August 29, 2021
Net earnings	$	1,885	$	2,022	$	3,795	$	4,767
Weighted average common shares outstanding for basic EPS		20,461		20,397		20,460		20,390
Net effect of dilutive options		42		88		44		207
Weighted average shares outstanding for diluted EPS		20,503		20,485		20,504		20,597
Basic earnings per share	$	0.09	$	0.10	$	0.19	$	0.23
Diluted earnings per share	$	0.09	$	0.10	$	0.19	$	0.23

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 501,000 and 166,000 for the 13 weeks ended August 28, 2022 and August 29, 2021, respectively and 449,000 and 171,000 for the 26 weeks ended August 28, 2022 and August 29, 2021, respectively.