Earnings Per Share

3 Months Ended

Jun. 28, 2015

Earnings Per Share

Earnings Per Share

Note 6. Earnings Per Share

The Company calculates earnings per share considering the Accounting Standard Codification No. 260 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:

	Fiscal Quarter Ended
Amounts in thousands, except per share amounts	June 28, 2015		June 29, 2014
Earnings per share – Basic:
Net earnings	$	1,695	$	3,671
Less: Distributed and undistributed earnings allocated to nonvested stock		(4)		(20)
Earnings available to common shareholders – Basic	$	1,691	$	3,651
Weighted average common shares outstanding – Basic		8,200		8,239
Earnings per common share – Basic	$	0.21	$	0.44
Earnings per share – Diluted:
Net earnings	$	1,695	$	3,671
Less: Distributed and undistributed earnings allocated to nonvested stock		(4)		(19)
Earnings available to common shareholders – Diluted	$	1,691	$	3,652
Weighted average common shares outstanding – Basic		8,200		8,239
Effect of dilutive options		69		145
Weighted average common shares outstanding – Diluted		8,269		8,384
Earnings per common share – Diluted	$	0.20	$	0.44
Anti-dilutive equity awards not included above		—		—