Earnings Per Share

9 Months Ended

Dec. 25, 2022

Earnings Per Share

Earnings Per Share

Note 6. 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. The number of diluted weighted-average common shares was 9,217,148 for the three months ended December 25, 2022, and 9,187,995 for the nine months ended December 25, 2022. At December 25, 2022, stock options with respect to 659,500 shares of common stock were outstanding, of which 564,500 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 performance stock units (“PSUs”) or restricted stock units (RSUs”) outstanding as of December 25, 2022.