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Net Earnings Per Share
 12 Months Ended
Aug. 31, 2022
Earnings Per Share [Abstract]  
Net Earnings Per Share

Note 5 – Net Earnings Per Share

The following table shows the computation of basic and diluted net earnings per share for fiscal 2022, 2021, and 2020:

 

 

 

For the years ended August 31,

 

($ and shares in thousands, except per share amounts)

 

2022

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

Net earnings

 

$

65,469

 

 

$

42,572

 

 

$

38,629

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

10,965

 

 

 

10,886

 

 

 

10,823

 

Diluted effect of stock equivalents

 

 

66

 

 

 

99

 

 

 

38

 

Weighted average shares outstanding assuming dilution

 

 

11,031

 

 

 

10,985

 

 

 

10,861

 

 

 

 

 

 

 

 

 

 

 

Basic net earnings per share

 

$

5.97

 

 

$

3.91

 

 

$

3.57

 

Diluted net earnings per share

 

$

5.94

 

 

$

3.88

 

 

$

3.56

 

 

 

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 number of securities excluded from the computation of earnings per share because their effect would have been anti-dilutive was not significant for fiscal 2022, 2021, and 2020.