Note 3 - Earnings Per Common Share

3 Months Ended

Jul. 02, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

3. Earnings per Common Share

Earnings per share for the three months ended July 2, 2022 and July 3, 2021 are as follows (in thousands, except per share amounts):

	Three Months Ended
	July 2,		July 3,
	2022		2021
Basic
Net earnings	$	5,103	$	14,136
Deduct preferred stock dividends paid		6		6
Undistributed net earnings		5,097		14,130
Earnings attributable to participating preferred		20		54
Earnings attributable to common shareholders	$	5,077	$	14,076
Weighted average common shares outstanding		8,155		9,025
Basic earnings per common share	$	0.62	$	1.56
Diluted
Earnings attributable to common shareholders	$	5,077	$	14,076
Add dividends on convertible preferred stock		5		5
Earnings attributable to common stock on a diluted basis	$	5,082	$	14,081
Weighted average common shares outstanding-basic		8,155		9,025
Additional shares issued related to the equity compensation plan		5		5
Additional shares to be issued under full conversion of preferred stock		67		67
Total shares for diluted		8,227		9,097
Diluted earnings per common share	$	0.62	$	1.55