Form 10-K - Securities And Exchange Commission Page 24
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46Per share information
Earnings per common share:
Basic
$
.40
$
.32
$
.25
Diluted
$
.36
$
.29
$
.23
Income available to common stockholders
$
2,671
$
1,853
$
1,502
Weighted average common shares:
Basic
6,604,000
5,861,000
5,981,000
Diluted
7,319,000
6,312,000
6,496,000
The accompanying notes are an integral part of the consolidated financial
statements.
9
Consolidated Statements of Changes in Stockholders' Equity
($ in thousands, except share data)
For the years ended February 25, 2000, February 26, 1999, and
February 27, 1998
Capital
contributed
in excess of
Accumulated
Common stock
par value of
other
Total
-----------------------
common
comprehensive
Retained
stockholders'
Shares
Amount
stock
income
earnings
equity
--------
--------
------------
-------------
---------
-------------
Balance, February 28, 1997
2,963,083
$ 296
$ 2,007
$
-
$
4,106
$
6,409
Net income for the year
-
-
-
-
1,794
1,794
Value of warrants issued in
connection with issuance of
subordinated debt
-
-
499
-
-
499
Accretion of preferred stock
-
-
-
-
(38)
(38)
Dividends on preferred stock
-
-
-
-
(254)
(254)
Shares issued in connection
with employee stock purchase
and stock option plans
41, 550
3
146
-
-
149
Shares issued in connection with
employee stock award
1,963
1
19
-
-
20
----------
-----
-------
-----
--------
--------
Balance, February 27, 1998
3,006,596
$ 300
$ 2,671
$
-
$
5,608
$
8,579
Net income for the year
-
-
-
-
2,170
2,170
Other comprehensive income
-
-
-
21
-
21
----------
-----
-------
-----
--------
--------
Total comprehensive income
-
-
-
21
2,170
2,191
Stock issued in connection with
with acquisition
55,000
6
489
-
-
495
Accretion of preferred stock
-
-
-
-
(42)
(42)
Dividends on preferred stock
-
-
-
-
(275)
(275)
Shares issued in connection with
employee stock purchase and
stock option plans
21,610
2
80
-
-
82
----------
-----
-------
-----
--------
--------
Balance, February 26, 1999
3,083,206
$ 308
$ 3,240
$
21
$
7,461
$ 11,030
Net income for the year
-
-
-
-
2,837
2,837
Other comprehensive loss
-
-
-
(83)
-
(83)
----------
-----
-------
-----
--------
--------
Total comprehensive income
-
-
-
(83)
2,837
2,754
Stock split effective
May 28, 1999
3,083,206
-
-
-
-
-
Dividend on preferred stock
-
-
-
-
(38)
(38)
Accretion of preferred stock
-
-
-
-
(128)
(128)
Shares issued in connection
with conversion of preferred
stock
666,666
33
2,467
-
-
2,500
Shares issued in connection
with employee stock purchase
and stock option plans
31,202
2
125
-
-
127
----------
-----
-------
-----
--------
--------
Balance, February 25, 2000
6,864,280
$ 343
$ 5,832
$ (62)
$ 10,132
$ 16,245
==========
=====
=======
=====
========
========
The accompanying notes are an integral part of the consolidated financial
statements.
10
Consolidated Statements of Cash Flows
($ in thousands)
Year Ended
Year Ended
Year Ended
February 25
February 26,
February 27,
2000
1999
1998
-----------
------------
-----------
Cash flows from operating activities:
Net income
$ 2,837
$ 2,170
$ 1,794
Adjustments to reconcile net income to net cash
(used in) provided
by operating activities
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