Earnings Per Common Share

12 Months Ended

Mar. 27, 2021

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note 12 – Earnings per Common Share

Earnings per Common Share
(thousands, except per share data)		2021		2020		2019
Numerator for earnings per common share calculation:
Net income	$	34,319	$	58,024	$	79,752
Less: Preferred stock dividends		(438)		(449)		(408)
Income available to common stockholders	$	33,881	$	57,575	$	79,344
Denominator for earnings per common share calculation:
Weighted average common shares - basic		33,329		33,246		32,980
Effect of dilutive securities:
Preferred stock		503		510		510
Stock options		26		167		154
Restricted stock		18		30		31
Weighted average common shares - diluted		33,876		33,953		33,675
Basic earnings per common share	$	1.02	$	1.73	$	2.41
Diluted earnings per common share	$	1.01	$	1.71	$	2.37

The computation of diluted earnings per common share for 2021, 2020 and 2019 excludes the effect of assumed exercise of approximately 456,000, 177,000 and 146,000 of stock options, respectively, as the exercise price of these options was greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings per common share.