Note 3 - Earnings Per Common Share

6 Months Ended

Oct. 01, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

3. Earnings per Common Share

Earnings per share for the three months ended October 1, 2022 and October 2, 2021 are as follows (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	October 1,		October 2,		October 1,		October 2,
	2022		2021		2022		2021
Basic
Net earnings	$	16,131	$	11,654	$	21,234	$	25,790
Deduct preferred stock dividends paid		6		6		12		12
Undistributed net earnings		16,125		11,648		21,222		25,778
Earnings attributable to participating preferred		65		45		85		99
Earnings attributable to common shareholders	$	16,060	$	11,603	$	21,137	$	25,679
Weighted average common shares outstanding		7,836		8,810		7,995		8,917
Basic earnings per common share	$	2.05	$	1.32	$	2.64	$	2.88
Diluted
Earnings attributable to common shareholders	$	16,060	$	11,603	$	21,137	$	25,679
Add dividends on convertible preferred stock		5		5		10		10
Earnings attributable to common stock on a diluted basis	$	16,065	$	11,608	$	21,147	$	25,689
Weighted average common shares outstanding-basic		7,836		8,810		7,995		8,917
Additional shares issued related to the equity compensation plan		3		3		3		3
Additional shares to be issued under full conversion of preferred stock		67		67		67		67
Total shares for diluted		7,906		8,880		8,065		8,987
Diluted earnings per common share	$	2.03	$	1.31	$	2.62	$	2.86