Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.21.2
EARNINGS PER SHARE
9 Months Ended
May 31, 2021
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE

NOTE 15 – 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). No options were excluded for the three and nine months ended May 31, 2021. The excluded options totaled 180,000 and 0 for the three and nine months ended May 31, 2020.

Three Months Ended

Nine Months Ended

May 31,

May 31,

May 31,

May 31,

    

2021

    

2020

    

2021

    

2020

(In thousands, except share and per share amounts)

Net income

$

624

$

27

$

18,276

$

6,064

Basic weighted average common shares

23,907,140

23,852,765

23,885,179

23,841,876

Effect of dilutive securities

277,255

200,055

219,229

229,142

Weighted average shares applicable to diluted earnings per share

24,184,395

24,052,820

24,104,408

24,071,018

Earnings per share - basic

$

0.03

$

0.00

$

0.77

$

0.25

Earnings per share - diluted

$

0.03

$

0.00

$

0.76

$

0.25