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Earnings per Common Share
 12 Months Ended
Aug. 31, 2012
Earnings per Common Share [Abstract]  
Earnings per Common Share

Note 10. Earnings per Common Share

The table below reconciles net income to net income available to common shareholders (in thousands):

 

                         
    Fiscal Year Ended August 31,  
    2012     2011     2010  

Net income

   $ 35,485     $ 36,433     $ 36,095  

Less: Net income allocated to participating securities

     (152 )      (130 )      (120 ) 
   

 

 

    

 

 

    

 

 

  

Net income available to common shareholders

   $   35,333     $   36,303     $   35,975  
   

 

 

    

 

 

    

 

 

  

The table below summarizes the weighted-average number of common shares outstanding included in the calculation of basic and diluted EPS (in thousands):

 

                         
    Fiscal Year Ended August 31,  
    2012     2011     2010  

Weighted-average common shares outstanding, basic

     15,914       16,803       16,606  

Weighted-average dilutive securities

     132       179       119  
   

 

 

    

 

 

    

 

 

  

Weighted-average common shares outstanding, diluted

     16,046       16,982       16,725  
   

 

 

    

 

 

    

 

 

  

For the fiscal years ended August 31, 2012 and 2011, there were no anti-dilutive stock options outstanding. For the fiscal year ended August 31, 2010, weighted-average stock options outstanding to purchase 600,814 shares of the Company’s common stock were excluded from the weighted-average number of common shares and potential common shares outstanding used in the calculation of diluted EPS as the effect of including them would be anti-dilutive because the stock options had an exercise price greater than or equal to the average market value of the Company’s common stock during that fiscal year.