Note 8 - Earnings Per Share

9 Months Ended

Nov. 29, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

8 . EARNINGS PER SHARE

Basic earnings per share are computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share are computed by dividing net earnings by the sum of (a) the weighted average number of shares of common stock outstanding during the period and (b) the potentially dilutive securities outstanding during the period. Stock options are the only potentially dilutive securities; and the number of dilutive options is computed using the treasury stock method.

The following table sets forth the calculation of basic and diluted earnings per share:

	13 Weeks Ended				39 Weeks Ended
(Amounts in thousands, except per share amounts)	November 29, 2015		November 30, 2014		November 29, 2015		November 30, 2014
Net earnings	$	4,109	$	2,031	$	13,455	$	15,202
Weighted average common shares outstanding for basic EPS		20,253		20,947		20,379		20,917
Net effect of dilutive options		-		42		7		85
Weighted average shares		20,253		20,989		20,386		21,002
outstanding for diluted EPS
Basic earnings per share	$	0.20	$	0.10	$	0.66	$	0.73
Diluted earnings per share	$	0.20	$	0.10	$	0.66	$	0.72

Potentially dilutive securities, which were not included in the computation of diluted earnings per share because either the effect would have been anti-dilutive or the options’ exercise prices were greater than the average market price of the common stock, were 1,027,000 and 315,000 for the 13 weeks ended November 29, 2015 and November 30, 2014, respectively, and 884,000 and 122,000 for the 39 weeks ended November 29, 2015 and November 30, 2014, respectively.