Earnings per Share

9 Months Ended

May 31, 2019

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 May 31,						Nine Months Ended May 31,
	2019			2018			2019			2018
EPS:
Net income	$	2,944		$	2,253		$	6,830		$	4,767
Less:  accrued preferred stock dividends		(19	)		(19	)		(57	)		(57	)
Net income available for common shareholders	$	2,925		$	2,234		$	6,773		$	4,710
Earnings per common share  – basic and diluted	$	0.60		$	0.46		$	1.39		$	0.97

For the three and nine months ended May 31, 2019 and 2018, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock) have been included in the computation of diluted earnings per share.