Note 13 - Earnings Per Share

9 Months Ended

Aug. 25, 2012

Earnings Per Share [Text Block]

13. Earnings Per Share

The following reconciles basic and diluted earnings per share:

	Net Income		Weighted Average Shares		Net Income Per Share
For the quarter ended August 25, 2012:
Basic earnings per share	$	2,371		10,945,784	$	0.22
Add effect of dilutive securities:
Options and restricted shares		-		123,835		(0.01	)
Diluted earnings per share	$	2,371		11,069,619	$	0.21
For the quarter ended August 27, 2011:
Basic earnings per share	$	417		11,454,409	$	0.04
Add effect of dilutive securities:
Options and restricted shares		-		124,849
Diluted earnings per share	$	417		11,579,258	$	0.04
For the nine months ended August 25, 2012:
Basic earnings per share	$	9,817		11,074,265	$	0.89
Add effect of dilutive securities:
Options and restricted shares		-		97,727		(0.01	)
Diluted earnings per share	$	9,817		11,171,992	$	0.88
For the nine months ended August 27, 2011:
Basic earnings per share	$	54,709		11,492,497	$	4.76
Add effect of dilutive securities:
Options and restricted shares		-		87,826		(0.04	)
Diluted earnings per share	$	54,709		11,580,323	$	4.72

For the three months ended August 25, 2012 and August 27, 2011, options to purchase 472,500 and 928,514 shares of common stock, respectively, were excluded from the computation as their effect was anti-dilutive.

For the nine months ended August 25, 2012 and August 27, 2011, options to purchase 713,500 and 928,514 shares of common stock, respectively, were excluded from the computation as their effect was anti-dilutive.