Annual report pursuant to Section 13 and 15(d)

Note 16 - Earnings Per Share

v3.7.0.1
Note 16 - Earnings Per Share
12 Months Ended
Dec. 25, 2016
Notes to Financial Statements  
Earnings Per Share [Text Block]
(16)
Earnings Per Share
 
Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net income by the diluted weighted average shares of common stock outstanding during each period. Potentially dilutive securities include shares of non-vested stock awards. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an antidilutive effect. Stock awards are excluded from the calculation of diluted earnings per share in the event they are antidilutive.
 
The following table sets forth the computation of basic earnings per common share (amounts in thousands, except share and per share data):
 
 
 
Fiscal Year
 
 
 
2016
 
 
2015
 
 
2014
 
                         
Income from continuing operations
  $
30,755
    $
30,166
    $
26,710
 
Loss from discontinued operations, net of income taxes
   
(290
)    
(162
)    
(10,255
)
Net income
  $
30,465
    $
30,004
    $
16,455
 
Shares:
                       
Weighted average number of common shares outstanding - basic
   
31,670,189
     
34,018,582
     
34,955,760
 
                         
Basic earnings per common share:
                       
Continuing operations
  $
0.97
    $
0.88
    $
0.76
 
Discontinued operations
   
(0.01
)    
0.00
     
(0.29
)
Basic earnings per common share
  $
0.96
    $
0.88
    $
0.47
 
 
Diluted earnings (loss) per share for fiscal years
2016,
2015
and
2014
excludes
22,349
stock options and restricted shares at a weighted-average price of
$19.04,
46,117
stock options and restricted shares at a weighted-average price of
$18.84
and
153,613
stock options and restricted shares at a weighted-average price of
$18.70,
respectively, which were outstanding during the periods but were anti-dilutive.
 
 
The following table sets forth the computation of diluted earnings per share (amounts in thousands, except share and per share data):
 
   
Fiscal Year
 
 
 
2016
 
 
2015
 
 
2014
 
                         
Income from continuing operations
  $
30,755
    $
30,166
    $
26,710
 
Loss from discontinued operations, net of income taxes
   
(290
)    
(162
)    
(10,255
)
Net income
  $
30,465
    $
30,004
    $
16,455
 
Shares:
                       
Weighted average number of common shares outstanding - basic
   
31,670,189
     
34,018,582
     
34,955,760
 
Dilutive shares
   
438,776
     
415,825
     
459,723
 
Weighted-average number of common shares outstanding - diluted
   
32,108,965
     
34,434,407
     
35,415,483
 
                         
Diluted earnings per common share:
                       
Continuing operations
  $
0.96
    $
0.87
    $
0.75
 
Discontinued operations
   
(0.01
)    
0.00
     
(0.29
)
Diluted earnings per common share
  $
0.95
    $
0.87
    $
0.46