Note 4

9 Months Ended

Jun. 23, 2012

Earnings Per Share [Text Block]

Note 4            Basic earnings per common share (EPS) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period.  Diluted EPS takes into consideration the potential dilution that could occur if securities (stock options) or other contracts to issue common stock were exercised and converted into common stock. Our calculation of EPS is as follows:

	Three Months Ended June 23, 2012
	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	18,672		18,886	$	0.99
Effect of Dilutive Securities
Options		-		61		-
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	18,672		18,947	$	0.99

500 anti-dilutive shares have been excluded from the computation of diluted EPS because the options’ exercise price is greater than the average market price of the common stock.

	Nine Months Ended June 23, 2012
	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	34,580		18,850	$	1.83
Effect of Dilutive Securities
Options		-		67		-
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	34,580		18,917	$	1.83

500 anti-dilutive shares have been excluded from the computation of diluted EPS because the options’ exercise price is greater than the average market price of the common stock.

	Three Months Ended June 25, 2011
	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	23,326		18,700	$	1.25
Effect of Dilutive Securities
Options		-		129		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	23,326		18,829	$	1.24

	Nine Months Ended June 25, 2011
	Income (Numerator)		Shares (Denominator)		Per Share Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	39,079		18,639	$	2.10
Effect of Dilutive Securities
Options		-		127		(0.02	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	39,079		18,766	$	2.08