Note 4

3 Months Ended

Dec. 26, 2020

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 December 26, 2020
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	1,778		18,935	$	0.09
Effect of Dilutive Securities
Options		-		96		-
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	1,778		19,031	$	0.09

187,722 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 26, 2020

	Three Months Ended December 28, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	17,059		18,898	$	0.90
Effect of Dilutive Securities
Options		-		246		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	17,059		19,144	$	0.89

20,000 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 28, 2019