Earnings Per Share

12 Months Ended

Aug. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

14.EARNINGS PER SHARE

The following is a reconciliation from basic earnings per share (EPS) to diluted EPS.  Prior to the collection of the management stock loans in the second quarter of fiscal 2013, the 3.3 million management stock loan common shares held in escrow were included in our basic EPS calculation during periods of net income and excluded in periods of net loss because they were determined to be participating securities and continued to have equivalent common stock dividend rights (in thousands, except per share amounts).

YEAR ENDED
AUGUST 31,		2014		2013		2012
Numerator for basic and
diluted earnings per share:
Net income	$	18,067	$	14,319	$	7,841
Denominator for basic and
diluted earnings per share:
Basic weighted average shares
outstanding		16,720		17,348		17,772
Effect of dilutive securities:
Stock options and other
share-based awards		227		91		71
Common stock warrants		-		532		517
Diluted weighted average shares
outstanding		16,947		17,971		18,360
EPS Calculations:
Net income per share:
Basic	$	1.08	$	0.83	$	0.44
Diluted		1.07		0.80		0.43

At August 31, 2012 we had 0.7 million stock options outstanding that were not included in the calculation of diluted weighted average shares outstanding for those periods because the options were anti-dilutive.  We have other potentially dilutive common share instruments, including performance share-based compensation awards (Note 11), which may have a dilutive impact on our EPS calculation in future periods if the price of our common stock increases or if our financial performance meets specified thresholds.