Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.21.1
EARNINGS PER SHARE
6 Months Ended
Feb. 28, 2021
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
NOTE 14 – EARNINGS PER SHARE

Certain outstanding options are excluded from the diluted earnings per share calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease earnings per share). The options excluded totaled 0 and 130,000 for the three and six months ended February 28, 2021. There were no excluded options for the three and six months ended February 29, 2020.

   
Three Months Ended
   
Six Months Ended
 
   
February 28,
2021
   
February 29,
2020
   
February 28,
2021
   
February 29,
2020
 
   
(In thousands, except share and per share amounts)
 
Net income
 
$
17,352
   
$
274
   
$
18,197
   
$
6,037
 
Basic weighted average common shares
   
23,881,655
     
23,846,265
     
23,874,198
     
23,836,431
 
Effect of dilutive securities
   
210,693
     
263,273
     
190,216
     
243,685
 
Weighted average shares applicable to diluted    earnings per share
   
24,092,349
     
24,109,538
     
24,064,414
     
24,080,116
 
Earnings per share - basic
 
$
0.73
   
$
0.01
   
$
0.76
   
$
0.25
 
Earnings per share - diluted
 
$
0.72
   
$
0.01
   
$
0.76
   
$
0.25