Note D - Income Per Share

9 Months Ended

Dec. 25, 2016

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

and

thirty

-

nine

week periods ended

December

25,

2016

and

December

27,

2015,

respectively.

Thirteen weeks
									Net Income
	Net Income				Number of Shares				Per Share
	2016		2015		2016		2015		2016		2015
	(in thousands)				(in thousands)
Basic EPS
Basic calculation	$	699	$	432		4,175		4,408	$	0.17	$	0.10
Effect of dilutive employee stock options		-		-		34		36		-		-
Diluted EPS
Diluted calculation	$	699	$	432		4,209		4,444	$	0.17	$	0.10

Thirty-nine weeks
									Net Income
	Net Income				Number of Shares				Per Share
	2016		2015		2016		2015		2016			2015
	(in thousands)				(in thousands)
Basic EPS
Basic calculation	$	6,756	$	5,589		4,171		4,474	$	1.62		$	1.25
Effect of dilutive employee stock options		-		-		31		30		(0.01	)		(0.01	)
Diluted EPS
Diluted calculation	$	6,756	$	5,589		4,202		4,504	$	1.61		$	1.24

No

options to purchase shares of common stock for the

thirteen

or

thirty

-

nine

week periods ended

December

25,

2016

and

December

27,

2015

were excluded from the computation of diluted earnings per share.