EARNINGS (LOSS) PER SHARE

6 Months Ended

Aug. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 6 - EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution, using the treasury stock method, that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. In computing diluted earnings per share, the treasury stock method assumes that outstanding options are exercised and the proceeds are used to purchase common stock at the average market price during the period. Options will have a dilutive effect under the treasury stock method only when the Company reports net income and the average market price of the common stock during the period exceeds the exercise price of the options.

The following is a summary of the calculation of weighted average shares used in the computation of basic and diluted earnings (loss) per share (in thousands):

	Three Months Ended		Six Months Ended
	August 31,		August 31,
	2011	2010	2011	2010
Basic weighted average number of common
shares outstanding	27,524	27,094	27,441	27,038
Effect of stock options, restricted stock,
restricted stock units and warrants
computed on treasury stock method	786	-	827	-
Diluted weighted average number of common
shares outstanding	28,310	27,094	28,268	27,038

     Shares underlying stock awards and warrants amounting to 2,216,000 at August 31, 2011 were excluded from the calculations of diluted earnings per share for the three and six months then ended because their inclusion would have been anti-dilutive under the treasury stock method.

Shares underlying stock awards and warrants amounting to 5,107,000 at August 31, 2010 were excluded from the computation of diluted earnings per share because the Company reported a net loss during the three- and six-month periods then ended and the effect of inclusion would be anti-dilutive (i.e., including such securities would result in a lower loss per share).