Note 4

6 Months Ended

Mar. 28, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4 Basic earnings per common share (EPS) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. Diluted EPS takes into consideration the potential dilution that could occur if securities (stock options) or other contracts to issue common stock were exercised and converted into common stock. Our calculation of EPS is as follows:

	Three Months Ended March 28, 2020
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	7,309		18,921	$	0.39
Effect of Dilutive Securities
Options		-		93		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	7,309		19,014	$	0.38

180,258 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 28, 2020

	Six Months Ended March 28, 2020
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	24,368		18,910	$	1.29
Effect of Dilutive Securities
Options		-		169		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	24,368		19,079	$	1.28

180,258 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 28, 2020

	Three Months Ended March 30, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	20,354		18,795	$	1.08
Effect of Dilutive Securities
Options		-		96		-
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	20,354		18,891	$	1.08

800 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 30, 2019

	Six Months Ended March 30, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	37,880		18,780	$	2.02
Effect of Dilutive Securities
Options		-		114		(0.02	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	37,880		18,894	$	2.00

800 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 30, 2019