Earnings per Share

3 Months Ended

Nov. 30, 2021

Earnings per Share

Earnings per Share

Note 5.    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,
(In thousands, except share and per share amounts)	2021		2020
EPS:
Net income	$	6,786	$	851
Less: accrued preferred stock dividends		(19)		(19)
Net income available for common shareholders	$	6,767	$	832
Earnings per common share – basic and diluted	$	1.39	$	0.17

For the three months ended November 30, 2021 and 2020, 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.