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Earnings Per Share
 9 Months Ended
May 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 4.   Earnings Per Share
 
The following is a reconciliation of the numerators and denominators of the basic and diluted computations for earnings per common share:
 
 
 
Three Months Ended
May 31,
 
Nine Months Ended
May 31,
 
 
 
2016
 
2015
 
2016
 
2015
 
(In thousands, except share and per share amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
EPS:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
1,619
 
$
1,174
 
$
2,850
 
$
2,688
 
Less: accrued preferred stock dividends
 
 
(19)
 
 
(19)
 
 
(57)
 
 
(57)
 
Net income available for common shareholders
 
$
1,600
 
$
1,155
 
$
2,793
 
$
2,631
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per common share – basic and diluted
 
$
0.33
 
$
0.24
 
$
0.59
 
$
0.55
 
 
For the three and nine months ended May 31, 2016 and 2015, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock) have been excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive  since the conversion price was greater than the average market price of the common stock