EARNINGS PER SHARE

9 Months Ended

Nov. 30, 2019

Note 5 – EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted EPS is based on the combined weighted average number of common shares outstanding and dilutive potential common shares issuable which include, where appropriate, the assumed exercise of options. In computing diluted EPS, we have utilized the treasury stock method. See Note 1 for additional information regarding the stock split that occurred in fiscal 2019.

The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below.

	Three Months Ended November 30,				Nine Months Ended November 30,
	2019		2018		2019		2018
Earnings per share:
Net earnings applicable to common shareholders	$	2,735,800	$	2,815,600	$	5,107,000	$	6,122,900
Shares:
Weighted average shares outstanding-basic		8,406,709		8,194,072		8,301,209		8,185,561
Assumed exercise of options		5,929		7,704		6,287		7,645

Weighted average shares outstanding-diluted		8,412,638		8,201,776		8,307,496		8,193,206

Diluted earnings per share:
Basic	$	0.33	$	0.34	$	0.62	$	0.75
Diluted	$	0.33	$	0.34	$	0.61	$	0.75