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Note 3 - Income Per Share
12 Months Ended
Mar. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

NOTE C - INCOME PER SHARE


Basic income per common share is calculated by dividing income by the weighted-average number of common shares outstanding and excludes any dilutive effects of stock options. Diluted income per common share gives effect to all potentially dilutive common shares that were outstanding during the period. Dilutive common shares used in the computation of diluted income per common share result from the assumed exercise of stock options and restricted stock, using the treasury stock method.


The following chart provides a reconciliation of information used in calculating the per share amounts for the fiscal years ended March 30, 2014, March 31, 2013 and March 25, 2012, respectively:


   

Net Income

   

Shares

   

Net income per share

 
   

2014

   

2013

   

2012

   

2014

   

2013

   

2012

   

2014

   

2013

   

2012

 
                                                                         

Basic EPS

                                                                       

Basic calculation

  $ 8,327     $ 7,468     $ 6,158       4,450,000       4,400,000       4,906,000     $ 1.87     $ 1.70     $ 1.26  

Effect of dilutive employee stock options

    -       -       -       155,000       188,000       143,000       (.06 )     (.07 )     (.04 )
                                                                         

Diluted EPS 

                                                                       

Diluted calculation

  $ 8,327     $ 7,468     $ 6,158       4,605,000       4,588,000       5,049,000     $ 1.81     $ 1.63     $ 1.22  

There were no options to purchase shares of common stock for the years ended March 30, 2014, March 31, 2013 and March 25, 2012 that were excluded from the computation of diluted earnings per share.