Earnings Per Share

3 Months Ended

May 31, 2019

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.

As of May 31, 2019, no options were outstanding.  For the three months ended May 31, 2018, all options were included in the diluted earnings per share computation because the average fair market value of the Company’s stock exceeded the exercise price of the options.The following table sets forth the computation for basic and diluted earnings (loss) per share for the periods indicated:

	Three months ended
	May 31,
	2019		2018
Basic weighted average common shares outstanding		26,028,337		25,333,673
Effect of dilutive options		—		30,099
Diluted weighted average common shares outstanding		26,028,337		25,363,772
Earnings per share
Net earnings - basic	$	0.37	$	0.37
Net earnings - diluted	$	0.37	$	0.36
Cash dividends	$	0.225	$	0.200