Earnings Per Share

3 Months Ended

May 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

10. 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 months ended May 31, 2013 and May 31, 2012, shares related to stock options of 333,405 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. The following table sets forth the computation for basic and diluted earnings per share for the periods indicated:

	Three months ended May 31,
	2013		2012
Basic weighted average common shares outstanding		26,038,068		25,963,369
Effect of dilutive options		17,801		20,538
Diluted weighted average common shares outstanding		26,055,869		25,983,907
Per share amounts:
Net earnings – basic	$	0.33	$	0.15
Net earnings – diluted	$	0.33	$	0.15
Cash dividends	$	—	$	0.175