NET INCOME PER SHARE

9 Months Ended

Mar. 04, 2016

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 4 – NET INCOME PER SHARE

Basic earnings per common share, as presented on the unaudited interim condensed consolidated statements of income, are computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share (EPS) reflects per share amounts that would have resulted if dilutive potential common stock equivalents had been converted to common stock, as prescribed by FASB Accounting Standards Codification (ASC) 260, “Earnings per Share”. Diluted earnings per share takes into consideration the potential dilution that could occur if stock options were exercised and converted into common stock. In the calculation of diluted earnings per share, the denominator includes the number of additional common shares that would have been outstanding if our outstanding dilutive stock options had been exercised, as determined pursuant to the treasury stock method. The basic and diluted EPS are the same for certain periods because the impact of common stock equivalents would be antidilutive.

	Fourteen		Thirteen		Forty		Thirty-Nine
	Weeks		Weeks		Weeks		Weeks
	Ended		Ended		Ended		Ended
	March 4, 2016		February 27, 2015		March 4, 2016		February 27, 2015
Basic EPS:
Net income	$	734,455	$	272,523	$	2,223,604	$	1,080,476
Weighted average shares outstanding		11,291,757		11,451,635		11,291,757		11,638,966
Earnings per share - Basic	$	0.07	$	0.02	$	0.20	$	0.09
Diluted EPS:
Weighted average shares outstanding		11,317,116		11,451,635		11,291,757		11,638,966
Earnings per share - Diluted	$	0.06	$	0.02	$	0.20	$	0.09