Note 4

9 Months Ended

Jun. 27, 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 June 27, 2020
	Loss			Shares		Per Share
	(Numerator)			(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Loss available to common stockholders	$	(12,647	)		18,888	$	(0.67	)
Effect of Dilutive Securities
Options		-			-		-
Diluted EPS
Net Loss available to common stockholders plus assumed conversions	$	(12,647	)		18,888	$	(0.67	)

845,977 anti-dilutive shares have been excluded in the computation of EPS for the three months ended June 27, 2020.

	Nine Months Ended June 27, 2020
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	11,721		18,902	$	0.62
Effect of Dilutive Securities
Options		-		134		-
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	11,721		19,036	$	0.62

169,246 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 27, 2020

	Three Months Ended June 29, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	30,872		18,823	$	1.64
Effect of Dilutive Securities
Options		-		124		(0.01	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	30,872		18,947	$	1.63

163,670 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 29, 2019

	Nine Months Ended June 29, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	68,752		18,794	$	3.66
Effect of Dilutive Securities
Options		-		118		(0.02	)
Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	68,752		18,912	$	3.64

163,670 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 29, 2019