Note 2 - (Loss) Earnings per Share

6 Months Ended

Sep. 29, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

2.            (Loss) Earnings per Share

(Loss) earnings per share, basic, is computed based on the weighted average number of common shares outstanding for the period. (Loss) earnings per share, diluted, is computed based on the weighted average number of common and potentially dilutive common equivalent shares outstanding for the period. A reconciliation of the numerators and denominators of the basic and diluted loss per share computations are illustrated below:

	13 weeks ended					26 weeks ended
	September 29, 2013			September 30, 2012		September 29, 2013			September 30, 2012
	(in thousands, except per share amounts)
Net (loss) income	$	(3,040	)	$	760	$	(5,886	)	$	863
Weighted average number of common shares outstanding:
Basic		14,190			14,190		14,190			14,190
Effect of dilutive securities- stock options		-			13		-			11
Diluted		14,190			14,203		14,190			14,201
(Loss) earnings per share:
Basic	$	(0.21	)	$	0.05	$	(0.41	)	$	0.06
Effect of dilutive securities- stock options		-			-		-			-
Diluted	$	(0.21	)	$	0.05	$	(0.41	)	$	0.06

Options to purchase an aggregate of 2.1 million shares for the 13 and 26 weeks ended September 29, 2013 and an aggregate of 2.2 million shares for the 13 and 26 weeks ended September 30, 2012 are excluded from the computation of diluted loss per share as their effect would have been anti-dilutive.