Earnings per Share

9 Months Ended

May. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 4.   Earnings per Share

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

	For the Three Months Ended May 31,				For the Nine Months Ended May 31,
(In thousands, except share and per share amounts)	2015		2014		2015		2014
EPS:
Net income	$	1,174	$	2,297	$	2,688	$	3,470
Less: accrued preferred stock dividends		(19)		(19)		(57)		(57)
Net income available for common shareholders	$	1,155	$	2,278	$	2,631	$	3,413
Earnings per common share – basic and diluted	$	0.24	$	0.47	$	0.54	$	0.70

For the three and nine months ended May 31, 2015 and 2014, 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.