Earnings per Share

6 Months Ended

Feb. 28, 2022

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				Six Months Ended
	February 28,				February 28,
(In thousands, except share and per share amounts)	2022		2021		2022		2021
EPS:
Net income	$	3,407	$	1,394	$	10,193	$	2,245
Less:  accrued preferred stock dividends		(19)		(19)		(38)		(38)
Net income available for common shareholders	$	3,388	$	1,375	$	10,155	$	2,207
Earnings per common share – basic and diluted	$	0.70	$	0.28	$	2.09	$	0.45

For the three and six months ended February 28, 2022 and 2021, 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.