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Net Earnings Per Share
 3 Months Ended
Nov. 30, 2016
Net Earnings Per Share [Abstract]  
Net Earnings Per Share

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 months ended November 30, 2016 and November 30, 2015:





 

 

 

 

 

 



 

Three months ended



 

November 30,

 

November 30,

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

 

2016

 

2015

Numerator:

 

 

 

 

 

 

     Net earnings

 

$

 873 

 

$

 6,944 



 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

     Weighted average shares outstanding

 

 

 10,638 

 

 

 11,259 

     Diluted effect of stock awards

 

 

 28 

 

 

 29 

     Weighted average shares outstanding assuming dilution

 

 

 10,666 

 

 

 11,288 



 

 

 

 

 

 

Basic net earnings per share

 

$

 0.08 

 

$

 0.62 

Diluted net earnings per share

 

$

 0.08 

 

$

 0.62 



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.  In addition, the following table shows the securities excluded from the computation of earnings per share because their effect would have been anti-dilutive:







 

 

 

 



 

Three months ended



 

November 30,

 

November 30,

(Units and options in thousands)

 

2016

 

2015

Restricted stock units

 

 33 

 

 15 

Stock options

 

 148 

 

 63