EARNINGS PER SHARE

9 Months Ended

Nov. 30, 2020

Note 5 – EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted EPS is based on the combined weighted average number of common shares outstanding and dilutive potential common shares issuable which include, where appropriate, the assumed exercise of options. In computing diluted EPS, we have utilized the treasury stock method.

The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below.

	Three Months Ended November 30,				Nine Months Ended November 30,
	2020		2019		2020		2019
Earnings:
Net earnings applicable to common shareholders	$	4,269,600	$	2,735,800	$	10,455,700	$	5,107,000

Weighted average shares:
Weighted average shares outstanding-basic		8,355,831		8,406,709		8,354,156		8,301,209
Assumed exercise of options		-		5,929		-		6,287
Weighted average shares outstanding-diluted		8,355,831		8,412,638		8,354,156		8,307,496

Earnings per share:
Basic	$	0.51	$	0.33	$	1.25	$	0.62
Diluted	$	0.51	$	0.33	$	1.25	$	0.61