Note D - Income Per Share

3 Months Ended

Jun. 28, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE D – 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-week periods ended June 28, 2015 and June 29, 2014, respectively.

Thirteen weeks
									Net Income
	Net Income				Number of Shares				Per Share
	2015		2014		2015		2014		2015		2014
	(in thousands)				(in thousands)
Basic EPS
Basic calculation	$	2,310	$	4,071		4,584		4,471	$	0.50	$	0.91
Effect of dilutive employee stock options		-		-		37		122		-		(0.02	)
Diluted EPS
Diluted calculation	$	2,310	$	4,071		4,621		4,593	$	0.50	$	0.89

There were no options to purchase shares of common stock for the thirteen week periods ended June 28, 2015 and June 29, 2014 that were excluded from the computation of diluted earnings per share.