Net Income (Loss) Per Common Share

9 Months Ended

Nov. 30, 2019

Net Income Per Common Share [Abstract]

Net Income (Loss) Per Common Share

(2) Net Income (Loss) Per Common Share

Basic net income (loss) per common share, net of non-controlling interest, is based upon the weighted-average common shares outstanding during the period. Diluted net income (loss) per common share, net of non-controlling interest, reflects the potential dilution that would occur if common stock equivalent securities or other contracts to issue common stock were exercised or converted into common stock.

There are no reconciling items which impact the numerator of basic and diluted net income (loss) per common share.  A reconciliation between the denominator of basic and diluted net income (loss) per common share is as follows:

	Three months ended November 30,				Nine months ended November 30,
	2019		2018		2019		2018
Weighted-average common shares outstanding (basic)		24,418,313		24,355,791		24,458,926		24,355,791
Effect of dilutive securities:
Restricted stock		207,097		273,045		—		—
Weighted-average common shares and potential common shares outstanding (diluted)		24,625,410		24,628,836		24,458,926		24,355,791

Restricted stock and stock grants totaling 43,374 and 0 for the three months ended November 30, 2019 and 2018, respectively, and 672,531 and 531,375 for the nine months ended November 30, 2019 and 2018, respectively, were not included in the net income (loss) per diluted share calculation because the grant price of the restricted stock and stock grants was greater than the average market price of the Company’s common stock during these periods, or the inclusion of these components would have been anti-dilutive.