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Earnings Per Share
 9 Months Ended
Dec. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Note 6. 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 (in thousands, except per share amounts):

Amounts in thousands, except per share amounts
 
Fiscal Quarter Ended
 
 
Nine Months Ended
 
 
December 30, 2012
 
 
December 25, 2011
 
 
December 30, 2012
 
 
December 25, 2011
 
Earnings per share – Basic:
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
$
5,399
 
 
$
4,774
 
 
$
14,874
 
 
$
12,888
 
Less: Distributed and undistributed earnings allocated to nonvested stock
 
 
(61
)
 
 
(69
)
 
 
(167
)
 
 
(187
)
Earnings available to common shareholders – Basic
 
$
5,338
 
 
$
4,705
 
 
$
14,707
 
 
$
12,701
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – Basic
 
 
7,947
 
 
 
7,657
 
 
 
7,916
 
 
 
7,625
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per common share – Basic
 
$
0.67
 
 
$
0.61
 
 
$
1.86
 
 
$
1.67
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share – Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
$
5,399
 
 
$
4,774
 
 
$
14,874
 
 
$
12,888
 
Less: Distributed and undistributed earnings allocated to nonvested stock
 
 
(61
)
 
 
(67
)
 
 
(165
)
 
 
(181
)
Earnings available to common shareholders – Diluted
 
$
5,338
 
 
$
4,707
 
 
$
14,709
 
 
$
12,707
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – Basic
 
 
7,947
 
 
 
7,657
 
 
 
7,916
 
 
 
7,625
 
Effect of dilutive options
 
 
272
 
 
 
378
 
 
 
261
 
 
 
325
 
Weighted average common shares outstanding – Diluted
 
 
8,219
 
 
 
8,035
 
 
 
8,177
 
 
 
7,950
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per common share – Diluted
 
$
0.65
 
 
$
0.59
 
 
$
1.80
 
 
$
1.60
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anti-dilutive equity awards not included above
 
 
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