Earnings Per Share

3 Months Ended

Jul. 01, 2017

Earnings Per Share [Abstract]

Earnings Per Share, Policy [Policy Text Block]

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method.

Earnings Per Share

Earnings Per Share

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands, except per share amounts):

	Three Months Ended
	July 1, 2017		July 2, 2016
Net income	$	11,753	$	5,443
Weighted average shares outstanding:
Basic	9,006,999		8,937,265
Common stock equivalents—treasury stock method	155,492		147,777
Diluted	9,162,491		9,085,042
Net income per share:
Basic	$	1.30	$	0.61
Diluted	$	1.28	$	0.60

There were 10,973 and 2,147 anti-dilutive common stock equivalents excluded for the three months ended July 1, 2017 and July 2, 2016, respectively.