Earnings per Share

3 Months Ended

Nov. 30, 2018

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 (in thousands, except per share data):

	Three Months Ended November 30,
	2018			2017
EPS:
Net income	$	1,925		$	1,195
Less:  accrued preferred stock dividends		(19	)		(19	)
Net income available for common   shareholders	$	1,906		$	1,176
Earnings per common share  – basic and diluted	$	0.39		$	0.24

For the three months ended November 30, 2018 and 2017, 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.