Earnings per Share

6 Months Ended

Aug. 31, 2014

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.  We compute diluted earnings per share using the weighted average number of shares of common stock outstanding plus the effect of dilutive securities.  Options for common stock are excluded from the computation of diluted earnings per share if their effect is antidilutive.  See Note 15 to these consolidated condensed financial statements for more information regarding share-based payment arrangements.

For the periods covered below, the basic and diluted shares are as follows:

WEIGHTED AVERAGE DILUTED SECURITIES

(in thousands)

	Three Months Ended August 31,		Six Months Ended August 31,
	2014	2013	2014	2013
Weighted average shares outstanding, basic	28,372	31,993	28,738	31,951
Incremental shares from share-based payment arrangements	397	279	454	275
Weighted average shares outstanding, diluted	28,769	32,272	29,192	32,226
Dilutive securities, as a result of in-the-money options	687	347	708	273
Dilutive securities, as a result of unvested or unsettled share awards	260	251	246	242
Antidilutive securities, as a result of out-of-the-money options	241	603	237	700