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Net Earnings Per Share
 12 Months Ended
Aug. 31, 2015
Net Earnings Per Share [Abstract]  
Net Earnings Per Share

D. NET EARNINGS PER SHARE

 

The following table shows the computation of basic and diluted net earnings per share for the years ended August 31, 2015,  2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended August 31,

($ and shares in thousands, except per share amounts)

 

2015

 

2014

 

2013

Numerator:

 

 

 

 

 

 

 

 

 

    Net earnings

 

$
26,309 

 

$
51,512 

 

$
70,570 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

    Weighted average shares outstanding

 

 
11,818 

 

 
12,832 

 

 
12,830 

    Diluted effect of stock equivalents

 

 
37 

 

 
50 

 

 
71 

    Weighted average shares outstanding assuming dilution

 

 
11,855 

 

 
12,882 

 

 
12,901 

 

 

 

 

 

 

 

 

 

 

Basic net earnings per share

 

$
2.23 

 

$
4.01 

 

$
5.50 

Diluted net earnings per share

 

$
2.22 

 

$
4.00 

 

$
5.47 

 

Certain stock options and restricted stock units were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive.  Performance stock units are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied.  The following table shows the securities excluded from the computation of earnings per share because their effect would have been anti-dilutive:

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended August 31,

Units and options in thousands

 

2015

 

2014

 

2013

Restricted stock units

 

 
3 

 

 
3 

 

 
3 

Stock options

 

 
50 

 

 
44 

 

 
29