Note 4

9 Months Ended

Jun. 25, 2016

Notes to Financial Statements

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 25, 2016
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	26,791		18,615	$	1.44
Effect of Dilutive Securities
Options		-		90		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	26,791		18,705	$	1.43

189,170 anti-dilutive shares have been excluded in the computation of EPS for the three months ended June 25, 2016.

	Nine Months Ended June 25, 2016
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	55,357		18,646	$	2.97
Effect of Dilutive Securities
Options		-		119		(0.02	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	55,357		18,765	$	2.95

189,670 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 25, 2016.

	Three Months Ended June 27, 2015
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	24,462		18,691	$	1.31
Effect of Dilutive Securities
Options		-		132		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	24,462		18,823	$	1.30

	Nine Months Ended June 27, 2015
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	50,355		18,683	$	2.70
Effect of Dilutive Securities
Options		-		132		(0.02	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	50,355		18,815	$	2.68