Note 3 - Earnings Per Common Share

6 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

3. Earnings per Common Share

Earnings per share for the three and six months ended September 30, 2023 and October 1, 2022 are as follows (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	September 30,		October 1,		September 30,		October 1,
	2023		2022		2023		2022
Basic
Net earnings	$	24,779	$	16,131	$	47,890	$	21,234
Deduct preferred stock dividends paid		6		6		12		12
Undistributed net earnings		24,773		16,125		47,878		21,222
Earnings attributable to participating preferred		28		65		53		85
Earnings attributable to common shareholders	$	24,745	$	16,060	$	47,825	$	21,137
Weighted average common shares outstanding		7,445		7,836		7,521		7,995
Basic earnings per common share	$	3.32	$	2.05	$	6.36	$	2.64
Diluted
Earnings attributable to common shareholders	$	24,745	$	16,060	$	47,825	$	21,137
Add dividends on convertible preferred stock		5		5		10		10
Earnings attributable to common stock on a diluted basis	$	24,750	$	16,065	$	47,835	$	21,147
Weighted average common shares outstanding-basic		7,445		7,836		7,521		7,995
Additional shares issued related to the equity compensation plan		3		3		3		3
Additional shares to be issued under full conversion of preferred stock		67		67		67		67
Total shares for diluted		7,515		7,906		7,591		8,065
Diluted earnings per common share	$	3.29	$	2.03	$	6.30	$	2.62