Earnings per Share

3 Months Ended

Nov. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 4. Earnings per Share

The following is a reconciliation of the numerators and denominators of the basic and diluted computations for earnings per common share:

	For the Three Months
	Ended
	November 30,
	2014		2013
(In thousands, except per share data)
EPS:
Net income	$	395	$	1,064
Less:  accrued preferred stock dividends		(19)		(19)
Net income available for common shareholders	$	376	$	1,045
Earnings per common share  – basic and diluted	$	0.08	$	0.21

For the three months ended November 30, 2014 and 2013, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock) have been excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. The decrease in earnings per share when compared to the same period last year was primarily due to the sale of the Company’s real property located in Orange Park, Florida (“Orange Park Property”) in the previous year, which resulted in a gain of $535,000.