Note 9 - Earnings Per Common Share

6 Months Ended

Mar. 26, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 9. Earnings 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 (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
	March 26, 2024		March 28, 2023		March 26, 2024		March 28, 2023
Weighted-average shares outstanding basic		11,136,207		11,818,651		11,256,893		11,930,140
Effect of potentially dilutive securities:
Stock options		5,260		13,722		6,449		3,364
Restricted stock units		89,250		51,750		89,250		51,750
Weighted-average shares outstanding diluted		11,230,717		11,884,123		11,352,592		11,985,254
Excluded from diluted weighted average shares outstanding:
Antidilutive		383,623		372,575		383,623		385,908