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Net Earnings Per Share
 12 Months Ended
Aug. 31, 2013
Net Earnings Per Share [Abstract]  
Net Earnings Per Share

D.  NET EARNINGS PER SHARE 

 

The following table shows the computation of basic and diluted net earnings per share for the years ended August 31, 2013,  2012 and 2011:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended August 31,

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

 

2013

 

2012

 

2011

Numerator:

 

 

 

 

 

 

 

 

 

    Net earnings

 

$
70,570 

 

$
43,277 

 

$
36,802 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

    Weighted average shares outstanding

 

 
12,830 

 

 
12,704 

 

 
12,560 

    Diluted effect of stock equivalents

 

 
71 

 

 
106 

 

 
132 

    Weighted average shares outstanding assuming dilution

 

 
12,901 

 

 
12,810 

 

 
12,692 

 

 

 

 

 

 

 

 

 

 

Basic net earnings per share

 

$
5.50 

 

$
3.41 

 

$
2.93 

Diluted net earnings per share

 

$
5.47 

 

$
3.38 

 

$
2.90 

 

 

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.  Items excluded from the calculation were not significant for the years ended August 31, 2013,  2012 and 2011.