INSTEEL INDUSTRIES INC Earnings Per Share Disclosure
(14) Earnings Per Share
The computation of basic and diluted earnings per share attributable to common shareholders is as follows:
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Year Ended |
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September 27, |
September 28, |
September 30, |
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(In thousands, except per share amounts) |
2025 |
2024 |
2023 |
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Net earnings |
$ | 41,020 | $ | 19,305 | $ | 32,415 | ||||||
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Basic weighted average shares outstanding |
19,484 | 19,502 | 19,504 | |||||||||
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Dilutive effect of stock-based compensation |
74 | 73 | 62 | |||||||||
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Diluted weighted average shares outstanding |
19,558 | 19,575 | 19,566 | |||||||||
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Net earnings per share: |
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Basic |
$ | 2.11 | $ | 0.99 | $ | 1.66 | ||||||
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Diluted |
2.10 | 0.99 | 1.66 | |||||||||
Options and RSUs that were antidilutive and not included in the diluted EPS calculation amounted to 60,000 shares in 2025, 37,000 shares in 2024 and 69,000 shares in 2023.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 23, 2025 | Showing above |
| 2024 | Oct 24, 2024 | |
| 2023 | Oct 26, 2023 | |
| 2022 | Oct 27, 2022 | |
| 2021 | Oct 28, 2021 | |
| 2020 | Oct 29, 2020 | |
| 2019 | Oct 25, 2019 | |
| 2018 | Oct 26, 2018 | |
| 2017 | Oct 27, 2017 | |
| 2016 | Oct 28, 2016 | |
| 2015 | Oct 30, 2015 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.