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Earnings Per Share
 9 Months Ended
Nov. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
2. 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 November 30,      Nine months ended November 30,  
     2011      2010      2011      2010  
    

(Unaudited)

(In thousands except share and per share data)

  

Numerator:

            

Net income for basic and diluted earnings per common share

    $ 10,021       $ 9,718       $ 29,092       $ 25,738   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Denominator for basic earnings per common share –weighted average shares

      12,581,726         12,495,182         12,560,298         12,448,949   

Effect of dilutive securities:

            

Employee and Director stock awards

      105,416         126,921         109,532         141,117   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator for diluted earnings per common share

      12,687,142         12,622,103         12,669,830         12,590,066   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per share basic and diluted:

            

Basic earnings per common share

    $ .80       $ .78       $ 2.32       $ 2.07   

Diluted earnings per common share

    $ .79       $ .77       $ 2.30       $ 2.04