XML 21 R11.htm IDEA: XBRL DOCUMENT v3.22.0.1
Earnings Per Share
9 Months Ended
Dec. 26, 2021
Earnings Per Share  
Earnings Per Share

Note 5. Earnings Per Share

The Company presents the computation of earnings per share (“EPS”) on a basic and diluted basis. Basic EPS is computed by dividing net income by the weighted average number of shares outstanding during the reported period. Diluted EPS is computed similarly to basic EPS, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common shares are excluded from the calculation if they are determined to be anti-dilutive. Diluted EPS was equal to basic EPS for the nine-month period ended December 26, 2021 because the Company operated at a loss. The number of diluted weighted-average common shares would have been 8,964,892 for the nine months ended December 26, 2021, if the Company was in a positive earning position. At December 26, 2021, stock options with respect to 975,458 shares of common stock were outstanding, of which 850,458 were anti-dilutive and not included in diluted EPS because the stock options’ exercise price was greater than the average market price of the common shares. There were no anti-dilutive PSUs or RSUs outstanding as of December 26, 2021.