Net Earnings Per Share

12 Months Ended

Aug. 31, 2017

Note 3 – Net Earnings Per Share

The following table shows the computation of basic and diluted net earnings per share for fiscal 2017, 2016, and 2015:


	For the years ended August 31,
($ and shares in thousands, except per share amounts)	2017		2016		2015
Numerator:
Net earnings	$	23,179	$	20,267	$	26,309

Denominator:
Weighted average shares outstanding		10,666		10,906		11,818
Diluted effect of stock equivalents		28		24		37
Weighted average shares outstanding assuming dilution		10,694		10,930		11,855

Basic net earnings per share	$	2.17	$	1.86	$	2.23
Diluted net earnings per share	$	2.17	$	1.85	$	2.22

Certain stock options and restricted stock units were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive. Performance stock units are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied. The following table shows the securities excluded from the computation of earnings per share because their effect would have been anti-dilutive:


	For the years ended August 31,
(Units and options in thousands)	2017		2016		2015
Restricted stock units		10		5		3
Stock options		108		89		50