Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.20.4
EARNINGS PER SHARE
 3 Months Ended
Nov. 30, 2020
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
NOTE 13 – 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 180,000 for the three months ended November 30, 2020. There were no excluded options for the three months ended November 30, 2019.

   
Three Months Ended November 30,
  
   
2020
    
2019
  
   
(In thousands, except share and per share
amounts)
  
Net Income
  
$
845
    
$
5,763
  
                 
Basic weighted average common shares
    
23,866,740
      
23,826,598
  
Effect of dilutive securities
    
169,739
      
224,097
  
Weighted average shares applicable to diluted earnings per share
    
24,036,479
      
24,050,695
  
                 
Earnings per share - basic
  
$
0.04
    
$
0.24
  
Earnings per share - diluted
  
$
0.04
    
$
0.24