Earnings Per Share

6 Months Ended

Aug. 31, 2020

Earnings per share is based on the weighted average number of shares outstanding during each period, adjusted for the dilutive effect of Company stock awards.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):


	Three Months Ended August 31,						Six Months Ended August 31,
	2020		2019		2020		2019
Numerator:
Net income (loss) for basic and diluted earnings per common share	$	(1,790)	$	15,558	$	3,751	$	36,842
Denominator:
Denominator for basic earnings per common share–weighted average shares	26,175		26,197		26,166		26,161
Effect of dilutive securities:
Employee and director equity awards	—		75		32		72
Denominator for diluted earnings per common share	26,175		26,272		26,198		26,233
Earnings per share basic and diluted:
Basic income (loss) per common share	$	(0.07)	$	0.59	$	0.14	$	1.41
Diluted income (loss) per common share	$	(0.07)	$	0.59	$	0.14	$	1.40

We had 28,319 and 15,863 restricted stock units and performance share units, respectively, that were not included in the calculation of diluted EPS for the three months ended August 31, 2020 because the effect would be antidilutive. These securities could be dilutive in future periods.