Note 7 - Earnings Per Share

6 Months Ended

Sep. 01, 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 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
	September 1, 2024		August 27, 2023		September 1, 2024		August 27, 2023
Net earnings	$	2,066	$	1,746	$	3,059	$	3,600
Weighted average common shares outstanding for basic EPS		20,216		20,256		20,234		20,359
Net effect of dilutive options		75		82		97		73
Weighted average shares outstanding for diluted EPS		20,291		20,338		20,331		20,432
Basic earnings per share	$	0.10	$	0.09	$	0.15	$	0.18
Diluted earnings per share	$	0.10	$	0.09	$	0.15	$	0.18

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 84,000 and 148,000 for the 13 weeks ended September 1, 2024 and August 27, 2023, respectively, and 42,000 and 152,000 for the 26 weeks ended September 1, 2024 and August 27, 2023, respectively.