Note 4

6 Months Ended

Mar. 26, 2022

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 26, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	3,271		19,134	$	0.17
Effect of dilutive securities
Options		-		72		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	3,271		19,206	$	0.17

270,352 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 26, 2022.

	Six Months ended March 26, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	14,362		19,110	$	0.75
Effect of dilutive securities
Options		-		70		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	14,362		19,180	$	0.75

271,452 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 26, 2022.

	Three Months Ended March 27, 2021
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	6,061		19,006	$	0.32
Effect of dilutive securities
Options		-		124		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	6,061		19,130	$	0.32

163,072 anti-dilutive shares have been excluded in the computation of EPS for the three months ended March 27, 2021.

	Six Months Ended March 27, 2021
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	7,839		18,971	$	0.41
Effect of dilutive securities
Options		-		110		-
Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	7,839		19,081	$	0.41

184,672 anti-dilutive shares have been excluded in the computation of EPS for the six months ended March 27, 2021.