Note C - Income Per Share

6 Months Ended

Sep. 28, 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 effect 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 warrants, as determined using the treasury stock method.

The following chart provides a reconciliation of information used in calculating the per-share amounts for the thirteen and twenty-six week periods ended September 28, 2014 and September 28, 2013, respectively.

Thirteen weeks
									Net Income
	Net Income				Number of Shares				Per Share
	2014		2013		2014		2013		2014			2013
	(in thousands)				(in thousands)
Basic EPS
Basic calculation	$	3,854	$	2,648		4,472		4,460	$	0.86		$	0.59
Effect of dilutive employee stock options		-		-		121		165		(0.02	)		(0.02	)
Diluted EPS
Diluted calculation	$	3,854	$	2,648		4,593		4,625	$	0.84		$	0.57

Twenty-six weeks
									Net Income
	Net Income				Number of Shares				Per Share
	2014		2013		2014		2013		2014			2013
	(in thousands)				(in thousands)
Basic EPS
Basic calculation	$	7,925	$	6,002		4,472		4,437	$	1.77		$	1.35
Effect of dilutive employee stock options		-		-		121		166		(0.04	)		(0.05	)
Diluted EPS
Diluted calculation	$	7,925	$	6,002		4,593		4,603	$	1.73		$	1.30

There were no options to purchase shares of common stock for the thirteen or twenty-six week periods ended September 28, 2014 and September 29, 2013 that were excluded from the computation of diluted earnings per share.