XML 32 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 6 Months Ended
Sep. 28, 2014
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:

Amounts in thousands, except per share amounts
 
Fiscal Quarter Ended
  
Six Months Ended
 
  
September 28, 2014
  
September 29, 2013
  
September 28, 2014
  
September 29, 2013
 
Earnings per share – Basic:
        
Net earnings
 
$
3,514
  
$
4,581
  
$
7,185
  
$
8,873
 
Less: Distributed and undistributed earnings allocated to nonvested stock
  
(19
)
  
(38
)
  
(39
)
  
(73
)
Earnings available to common shareholders – Basic
 
$
3,495
  
$
4,543
  
$
7,146
  
$
8,800
 
                 
Weighted average common shares outstanding – Basic
  
8,279
   
8,149
   
8,252
   
8,109
 
                 
Earnings per common share – Basic
 
$
0.42
  
$
0.56
  
$
0.87
  
$
1.09
 
                 
Earnings per share – Diluted:
                
Net earnings
 
$
3,514
  
$
4,581
  
$
7,185
  
$
8,873
 
Less: Distributed and undistributed earnings allocated to nonvested stock
  
(19
)
  
(37
)
  
(29
)
  
(60
)
Earnings available to common shareholders – Diluted
 
$
3,495
  
$
4,544
  
$
7,156
  
$
8,813
 
                 
Weighted average common shares outstanding – Basic
  
8,279
   
8,149
   
8,252
   
8,109
 
Effect of dilutive options
  
106
   
149
   
106
   
172
 
Weighted average common shares outstanding – Diluted
  
8,385
   
8,298
   
8,358
   
8,281
 
                 
Earnings per common share – Diluted
 
$
0.42
  
$
0.55
  
$
0.86
  
$
1.06
 
                 
Anti-dilutive equity awards not included above
  
--
   
--
   
--
   
--