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, 2021

NOTE 12 – EARNINGS PER SHARE

The Company’s earnings per share (EPS) was 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, 2021 and 2020, the Company excluded 0 and 180,000 options as the impact was anti-dilutive.


	Three Months Ended
	November 30,		November 30,
(In thousands, except share and per share amounts)	2021		2020
Net income	$	1,514	$	845

Basic weighted average common shares		23,917,908		23,866,740
Effect of dilutive securities		301,328		169,739
Weighted average shares applicable to diluted earnings per share		24,219,236		24,036,479

Earnings per share - basic and diluted	$	0.06	$	0.04