Earnings Per Share

9 Months Ended

Dec. 25, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note  7. Earnings Per Share

The Company calculates earnings per share considering the FASB standard regarding accounting for participating securities, which requires the Company to use the two-class method to calculate earnings per share. Under the two-class method, earnings per common share is computed by dividing the sum of the distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average shares outstanding during the period.

The following table presents the calculation of basic and diluted earnings per common share:

Amounts in thousands, expect per share amounts	Fiscal Quarter Ended						Nine Months Ended
	December 25, 2011			December 26, 2010			December 25, 2011			December 26, 2010
Earnings per share – Basic:
Net earnings	$	4,774		$	2,961		$	12,888		$	8,376
Less: Distributed and undistributed earnings allocated to nonvested stock		(69	)		(53	)		(187	)		(150	)
Earnings available to common shareholders – Basic	$	4,705		$	2,908		$	12,701		$	8,226
Weighted average common shares outstanding – Basic		7,657			7,410			7,625			7,385
Earnings per common share – Basic	$	0.61		$	0.39		$	1.67		$	1.11
Earnings per share – Diluted:
Net earnings	$	4,774		$	2,961		$	12,888		$	8,376
Less: Distributed and undistributed earnings allocated to nonvested stock		(67	)		(51	)		(181	)		(118	)
Earnings available to common shareholders – Diluted	$	4,707		$	2,910		$	12,707		$	8,258
Weighted average common shares outstanding – Basic		7,657			7,410			7,625			7,385
Effect of dilutive options		378			344			325			346
Weighted average common shares outstanding – Diluted		8,035			7,754			7,950			7,731
Earnings per common share – Diluted	$	0.59		$	0.38		$	1.60		$	1.07
Anti-dilutive equity awards not included above		--			--			--			--