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Earnings per Share
9 Months Ended
Nov. 30, 2013
Earnings per Share  
Earnings per Share

Note 4 – Earnings per Share

 

We compute basic earnings per share using the weighted average number of shares of common stock outstanding during the period and diluted earnings per share using basic earnings per share plus the effect of dilutive securities. Our securities that can have dilutive effects consist of outstanding options to purchase common stock and issued and contingently issuable unvested restricted share units and awards.  See Note 14 to these consolidated condensed financial statements for more information regarding these restricted share units and awards. Options for common stock are excluded from the computation of diluted earnings per share if their effect is antidilutive.

 

For the periods covered in the accompanying consolidated condensed statements of income, the basic and diluted shares are as follows:

 

WEIGHTED AVERAGE DILUTED SECURITIES

(in thousands)

 

 

Three Months Ended November 30,

 

Nine Months Ended November 30,

 

 

 

 

2013

 

 

2012

 

 

 

2013

 

 

2012

 

Weighted average shares outstanding, basic

 

 

32,047

 

 

31,775

 

 

31,982

 

 

31,739

 

Incremental shares from share-based payment arrangements

 

 

435

 

 

195

 

 

329

 

 

146

 

Weighted average shares outstanding, diluted

 

 

32,482

 

 

31,970

 

 

32,311

 

 

31,885

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive securities, as a result of in-the-money options

 

 

574

 

 

354

 

 

373

 

 

348

 

Dilutive securities, as a result of unvested restricted shares

 

 

408

 

 

143

 

 

298

 

 

143

 

Antidilutive securities, as a result of out-of-the-money options

 

 

358

 

 

612

 

 

586

 

 

618