EARNINGS PER SHARE

9 Months Ended

Nov. 30, 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		Nine Months Ended
	November 30,		November 30,
	2014	2013	2014	2013
Basic weighted average number of common
shares outstanding	35,901	35,171	35,735	34,848
Effect of stock options, restricted stock and restricted
stock units computed on treasury stock method	625	1,035	773	1,053
Diluted weighted average number of common
shares outstanding	36,526	36,206	36,508	35,901

   Shares underlying stock options of 146,000 and 65,000 at November 30, 2014 and November 30, 2013, respectively, were excluded from the calculations of diluted earnings per share for the three and nine 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.