Earnings Per Share

6 Months Ended

Aug. 31, 2012

Earnings Per Share [Abstract]

Earnings per share

13. Earnings per share

Basic earnings per share have been computed by dividing net earnings by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share reflect the potential dilution that could occur if stock options or other contracts to issue common shares were exercised or converted into common stock.

For the three and six months ended August 31, 2012, shares related to stock options of 305,150 and 301,150 respectively, were not included in the diluted earnings per share computation because their exercise price exceeded the average fair market value of the Company’s stock. For the three and six months ended August 31, 2011, 176,443 shares related to stock options were not included in the diluted earnings per share computation because their exercise price exceeded the average fair market value of the Company’s stock. The following table sets forth the computation for basic and diluted earnings per share for the periods indicated:

	Three months ended August 31,				Six months ended August 31,
	2012		2011		2012		2011
Basic weighted average common shares outstanding		25,992,505		25,933,902		25,984,188		25,914,986
Effect of dilutive options		18,638		27,269		19,395		28,375
Diluted weighted average common shares outstanding		26,011,143		25,961,171		26,003,583		25,943,361
Per share amounts:
Net earnings – basic	$	0.29	$	0.37	$	0.44	$	0.82
Net earnings – diluted	$	0.29	$	0.37	$	0.44	$	0.81
Cash dividends	$	0.175	$	0.155	$	0.350	$	0.310