EARNINGS PER SHARE

3 Months Ended

Nov. 30, 2020

NOTE 13 – EARNINGS PER SHARE

Certain outstanding options are excluded from the diluted earnings per share calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease earnings per share). The options excluded totaled 180,000 for the three months ended November 30, 2020. There were no excluded options for the three months ended November 30, 2019.

	Three Months Ended November 30,
	2020		2019
	(In thousands, except share and per share amounts)
Net Income	$	845	$	5,763

Basic weighted average common shares		23,866,740		23,826,598
Effect of dilutive securities		169,739		224,097
Weighted average shares applicable to diluted earnings per share		24,036,479		24,050,695

Earnings per share - basic	$	0.04	$	0.24
Earnings per share - diluted	$	0.04	$	0.24