EARNINGS PER SHARE

6 Months Ended

Aug. 31, 2014

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 7 - EARNINGS PER SHARE 

Basic earnings per share is computed by dividing net income 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 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 following table sets forth the composition of weighted average shares used in the computation of basic and diluted earnings per share (in thousands):

	Three Months Ended		Six Months Ended
	August 31,		August 31,
	2014	2013	2014	2013
Basic weighted average number of common
shares outstanding	35,732	34,808	35,652	34,687
Effect of stock options, restricted stock and restricted
stock units computed on treasury stock method	740	1,025	846	1,061
Diluted weighted average number of common
shares outstanding	36,472	35,833	36,498	35,748

    Shares underlying stock options of 157,000 and 65,000 at August 31, 2014 and August 31, 2013, respectively, were excluded from the calculations of diluted earnings per share for the three and six month periods then ended because based on the exercise prices of these derivative securities their inclusion would have been anti-dilutive under the treasury stock method.