Note C - Income Per Share

12 Months Ended

Mar. 29, 2015

Notes to Financial Statements

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 29, 2015, March 30, 2014 and March 31, 2013, respectively:

	Net Income						Shares						Net income per share
	2015		2014		2013		2015		2014		2013		2015			2014			2013
Basic EPS
Basic calculation	$	11,703	$	8,327	$	7,468		4,486,000		4,450,000		4,400,000	$	2.61		$	1.87		$	1.70
Effect of dilutive employee stock options		-		-		-		102,000		155,000		188,000		(.06	)		(.06	)		(.07	)
Diluted EPS
Diluted calculation	$	11,703	$	8,327	$	7,468		4,588,000		4,605,000		4,588,000	$	2.55		$	1.81		$	1.63

There were no options to purchase shares of common stock for the years ended March 29, 2015, March 30, 2014 and March 31, 2013 that were excluded from the computation of diluted earnings per share.