Note C - Income Per Share

12 Months Ended

Mar. 26, 2017

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 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 fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively:

	Net Income						Shares						Net income per share
	2017		2016		2015		2017		2016		2015		2017			2016			2015
Basic EPS
Basic calculation	$	7,485	$	6,096	$	11,703		4,172,000		4,430,000		4,486,000	$	1.79		$	1.38		$	2.61
Effect of dilutive employee stock options		-		-		-		34,000		33,000		102,000		(.01	)		(.01	)		(.06	)
Diluted EPS
Diluted calculation	$	7,485	$	6,096	$	11,703		4,206,000		4,463,000		4,588,000	$	1.78		$	1.37		$	2.55

No

options to purchase shares of common stock for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were excluded from the computation of diluted earnings per share.