EARNINGS PER SHARE

9 Months Ended

Nov. 30, 2023

NOTE 9 - EARNINGS PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of the basic and diluted loss per share of common stock is as follows (in thousands, except per share value):


	Three Months Ended						Nine Months Ended
	November 30,						November 30,
	2023			2022			2023			2022
Net loss	$	(85,004	)	$	(4,733	)	$	(93,261	)	$	(24,400	)

Basic weighted average number of common shares outstanding		37,427			36,357			37,023			36,027
Effect of stock options and restricted stock units computed on treasury stock method		—			—			—			—
Diluted weighted average number of common shares outstanding		37,427			36,357			37,023			36,027

Basic net income (loss) per common share:
Net loss	$	(2.27	)	$	(0.13	)	$	(2.52	)	$	(0.68	)

Diluted net income (loss) per common share:
Net loss	$	(2.27	)	$	(0.13	)	$	(2.52	)	$	(0.68	)

All outstanding options and restricted stock units for the three and nine months ended November 30, 2023 and 2022 were excluded from the computation of diluted loss per share because we reported a net loss for each of these periods and the effect of inclusion would be antidilutive.