Note 5 - Earnings Per Share

6 Months Ended

Mar. 25, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 5 Earnings per Share

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 and restricted stock units (“RSU”)’s) or other contracts to issue common stock were exercised and converted into common stock. Our calculation of EPS is as follows:

	Three months ended March 25, 2023
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	6,871		19,238	$	0.36
Effect of dilutive securities
RSU's and options		-		57		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	6,871		19,295	$	0.36

381,735 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 25, 2023.

	Six months ended March 25, 2023
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	13,504		19,230	$	0.70
Effect of dilutive securities
RSU's and options		-		55		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	13,504		19,285	$	0.70

386,510 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 25, 2023.

	Three months ended March 26, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	3,271		19,134	$	0.17
Effect of dilutive securities
RSU's and options		-		72		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	3,271		19,206	$	0.17

270,352 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 26, 2022.

	Six months ended March 26, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	14,362		19,110	$	0.75
Effect of dilutive securities
RSU's and options		-		70		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	14,362		19,180	$	0.75

271,452 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 26, 2022.