Net Income (Loss) Per Common Share

3 Months Ended

May 31, 2021

Net Income Per Common Share [Abstract]

Net Income (Loss) Per Common Share

(3) Net Income (Loss) Per Common Share

Basic net income (loss) per common share, net of non-controlling interest, is based upon the weighted-average common shares outstanding during the period. Diluted net income (loss) per common share, net of non-controlling interest, reflects the potential dilution that would occur if common stock equivalent securities or other contracts to issue common stock were exercised or converted into common stock.

There are no reconciling items which impact the numerator of basic and diluted net income (loss) per common share.  A reconciliation between the denominator of basic and diluted net income (loss) per common share is as follows:

	Three months ended May 31,
	2021		2020
Weighted-average common shares outstanding (basic)		24,266,242		24,224,478
Effect of dilutive securities:
Restricted stock and stock grants		659,732		—
Weighted-average common shares and potential common shares outstanding (diluted)		24,925,974		24,224,478

Restricted stock and stock grants 0 and 596,379 for the three months ended May 31, 2021 and 2020, respectively, were not included in the net income (loss) per diluted share calculation because the grant price of the restricted stock and stock grants was greater than the average market price of the Company’s common stock during these periods, or the inclusion of these components would have been anti-dilutive.