Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

3 Months Ended

Nov. 30, 2022

NOTE 13 – EARNINGS PER SHARE

Earnings per share (EPS) is calculated by dividing net income attributable to common shareholders by the weighted-average shares of common stock outstanding during the period. Certain outstanding options are excluded from the diluted EPS calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease EPS). For the three months ended November 30, 2022 and 2021, the Company excluded 610,395 options and 505,005 options because their impact was anti-dilutive.


	Three Months Ended
(In thousands, except share and per share amounts)	November 30, 2022		November 30, 2021
Net income	$	159	$	1,514

Basic weighted average common shares		23,985,788		23,917,908
Effect of dilutive securities		102,105		301,328
Weighted average shares applicable to diluted earnings per share		24,087,893		24,219,236

Earnings per share - basic	$	0.01	$	0.06
Earnings per share - diluted	$	0.01	$	0.06