EARNINGS PER SHARE

12 Months Ended

Feb. 28, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 8 – EARNINGS PER SHARE

The following is a summary of the calculation of weighted average shares used in the computation of basic and diluted earnings (loss) per share (in thousands):

	Year Ended
	February 28,
	2012	2011	2010
Basic weighted average number of common
shares outstanding	27,658	27,181	25,309
Effect of stock options, restricted stock,
restricted stock units and warrants
computed on treasury stock method	800	-	-
Diluted weighted average number of common
shares outstanding	28,458	27,181	25,309

Shares underlying stock options and warrants amounting to 907,000 at February 28, 2012 were excluded from the calculations of diluted earnings per share for fiscal 2012 because based on the exercise prices of these derivative securities their inclusion would have been anti-dilutive under the treasury stock method.

Shares underlying stock awards and warrants amounting to 4,673,000 and 4,677,000 at February 28, 2011 and 2010, respectively, were excluded from the computation of diluted earnings per share for the fiscal years then ended because the Company reported a net loss during these years and the effect of inclusion would be anti-dilutive (i.e., including such securities would result in a lower loss per share).