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Earnings Per Share
 3 Months Ended
May 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Earnings per share is based on the weighted average number of shares outstanding during each period, adjusted for the dilutive effect of stock awards.
The following table sets forth the computation of basic and diluted earnings per share:
 
 
 
Three Months ended May 31,
 
 
2017
 
2016
 
 
(Unaudited)
(In thousands except per share data)
Numerator:
 
 
 
 
Net income for basic and diluted earnings per common share
 
$
13,240

 
$
21,063

Denominator:
 
 
 
 
Denominator for basic earnings per common share–weighted average shares
 
26,012

 
25,913

Effect of dilutive securities:
 
 
 
 
Employee and director stock awards
 
81

 
130

Denominator for diluted earnings per common share
 
26,093

 
26,043

Earnings per share basic and diluted:
 
 
 
 
Basic earnings per common share
 
$
0.51

 
$
0.81

Diluted earnings per common share
 
$
0.51

 
$
0.81