Earnings per Share

9 Months Ended

Nov. 30, 2014

Earnings per Share

Earnings per Share

Note 5 – 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 16 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 November 30,		Nine Months Ended November 30,
	2014	2013	2014	2013
Weighted average shares outstanding, basic	28,414	32,047	28,630	31,982
Incremental shares from share-based payment arrangements	410	435	440	329
Weighted average shares outstanding, diluted	28,824	32,482	29,070	32,311
Dilutive securities, as a result of in-the-money options	643	574	686	373
Dilutive securities, as a result of unvested or unsettled share awards	278	408	267	298
Antidilutive securities, as a result of out-of-the-money options	245	358	240	586