Note 7 - Earnings Per Share

3 Months Ended

Jun. 02, 2024

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 Company’s 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
	June 2, 2024		May 28, 2023
Net earnings	$	993	$	1,854
Weighted average common shares outstanding for basic EPS		20,253		20,461
Net effect of dilutive options		118		65
Weighted average shares outstanding for diluted EPS		20,371		20,526
Basic earnings per share	$	0.05	$	0.09
Diluted earnings per share	$	0.05	$	0.09

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 0 and 157,000 for the 13 weeks ended June 2, 2024 and May 28, 2023, respectively.