EARNINGS PER SHARE (Tables)

12 Months Ended

Aug. 31, 2022

EARNINGS PER SHARE [Abstract]

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). No options were excluded for the fiscal years ended August 31, 2022 and 2021.

	Year Ended
(In thousands, except share and per share amounts)	August 31, 2022		August 31, 2021
Net income	$	9,619	$	20,110
Basic weighted average common shares		23,953,740		23,890,792
Effect of dilutive securities		202,250		220,126
Weighted average shares applicable to diluted earnings per share		24,155,990		24,110,918
Earnings per share - basic	$	0.40	$	0.84
Earnings per share - diluted	$	0.40	$	0.83