Net Earnings Per Share

12 Months Ended

Aug. 31, 2021

Note 5 – Net Earnings Per Share

The following table shows the computation of basic and diluted net earnings per share for fiscal 2021, 2020, and 2019:

	For the years ended August 31,
($ and shares in thousands, except per share amounts)	2021		2020		2019
Numerator:
Net earnings	$	42,572	$	38,629	$	2,172
Denominator:
Weighted average shares outstanding		10,886		10,823		10,781
Diluted effect of stock equivalents		99		38		29
Weighted average shares outstanding assuming dilution		10,985		10,861		10,810

Basic net earnings per share	$	3.91	$	3.57	$	0.20
Diluted net earnings per share	$	3.88	$	3.56	$	0.20

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)	2021		2020		2019
Restricted stock units		—		6		8
Stock options		21		34		72
Performance stock units		3		—		5