Earnings per Share

3 Months Ended

Nov. 30, 2016

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 (in thousands, except per share data):

	Three Months Ended November 30,
	2016		2015
EPS:
Net income	$	661	$	500
Less: accrued preferred stock dividends		(19)		(19)
Net income available for common shareholders	$	642	$	481
Earnings per common share – basic and diluted	$	0.13	$	0.10

For the three months ended November 30, 2016 and 2015, 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 inclusion would be anti-dilutive since the conversion price was greater than the average market price of the common stock.