Note 10 - Net Income (Loss) Per Common Share

9 Months Ended

Jun. 27, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 10. Net Income (Loss) per Common Share

Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive securities for this calculation consist of in-the-money outstanding stock options, restricted stock units and warrants (which were assumed to have been exercised at the average market price of the common shares during the reporting period). The treasury stock method is used to measure the dilutive impact of in-the-money stock options.

The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding:

	Quarter Ended				Year-to-Date
	June 27, 2023		June 28, 2022		June 27, 2023		June 28, 2022
Weighted-average shares outstanding basic		11,700,044		12,457,251		11,853,441		12,502,449
Effect of potentially dilutive securities:
Stock options		19,242		29,071		7,050		-
Restricted stock units		50,000		74,336		50,000		-
Weighted-average shares outstanding diluted		11,769,286		12,560,658		11,910,491		12,502,449
Excluded from diluted weighted average shares outstanding:
Antidilutive		345,691		387,378		354,024		249,752