Net Earnings Per Share

6 Months Ended

Feb. 28, 2025

Note 3 – Net Earnings per Share

Basic earnings per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings per share is calculated on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, restricted stock unit awards and other dilutive securities.

The following table shows the computation of basic and diluted net earnings per share for the three and six months ended February 28, 2025 and February 29, 2024:


	Three months ended				Six months ended
($ and shares in thousands, except per share amounts)	February 28, 2025		February 29, 2024		February 28, 2025		February 29, 2024
Numerator:
Net earnings	$	26,576	$	18,123	$	43,739	$	33,142

Denominator:
Weighted average shares outstanding		10,863		11,033		10,858		11,025
Diluted effect of stock awards		46		41		48		42
Weighted average shares outstanding assuming dilution		10,909		11,074		10,906		11,067

Basic net earnings per share	$	2.45	$	1.64	$	4.03	$	3.01
Diluted net earnings per share	$	2.44	$	1.64	$	4.01	$	2.99

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 the three and six months ended February 28, 2025 and February 29, 2024.