Earnings Per Share

6 Months Ended

Mar. 01, 2014

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 4 – EARNINGS PER SHARE

The following is a reconciliation from basic earnings per share (EPS) to diluted EPS.  Prior to the collection of the management stock loans in the second quarter of fiscal 2013, the 3.3 million management stock loan common shares held in escrow were included in our basic EPS calculation during periods of net income and excluded in periods of net loss because they were determined to be participating securities and continued to have equivalent common stock dividend rights (in thousands, except per-share amounts).

	Quarter Ended				Two Quarters Ended
		March 1,		March 2,		March 1,		March 2,
		2014		2013		2014		2013
Numerator for basic and
diluted earnings per share:
Net income	$	1,971	$	1,592	$	3,690	$	4,489
Denominator for basic and
diluted earnings per share:
Basic weighted average shares
outstanding		16,717		18,550		16,640		18,356
Effect of dilutive securities:
Stock options and other
share-based awards		209		117		252		74
Common stock warrants		-		1,042		-		1,063
Diluted weighted average
shares outstanding		16,926		19,709		16,892		19,493
EPS Calculations:
Net income per share:
Basic	$	0.12	$	0.09	$	0.22	$	0.24
Diluted		0.12		0.08		0.22		0.23

At March 2, 2013, we had approximately 0.2 million stock options outstanding that were not included in the computation of diluted EPS because the options’ exercise prices were greater than the average market price of our common shares.  Although these shares were not included in our calculation of diluted EPS, these stock options, and other dilutive securities, including performance share-based compensation instruments, may have a dilutive effect on our EPS calculation in future periods if the price of our common stock increases.