| 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.
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Three Months Ended |
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Nine Months Ended |
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May 31, |
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May 31, |
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May 31, |
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May 31, |
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2021 |
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2020 |
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2021 |
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2020 |
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(In thousands, except share and per share amounts) |
Net income |
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$ |
624 |
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$ |
27 |
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$ |
18,276 |
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$ |
6,064 |
Basic weighted average common shares |
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23,907,140 |
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23,852,765 |
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23,885,179 |
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23,841,876 |
Effect of dilutive securities |
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277,255 |
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200,055 |
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219,229 |
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229,142 |
Weighted average shares applicable to diluted earnings per share |
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24,184,395 |
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24,052,820 |
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24,104,408 |
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24,071,018 |
Earnings per share - basic |
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$ |
0.03 |
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$ |
0.00 |
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$ |
0.77 |
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$ |
0.25 |
Earnings per share - diluted |
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$ |
0.03 |
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$ |
0.00 |
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$ |
0.76 |
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$ |
0.25 |
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