Net Earnings Per Share

9 Months Ended

May 31, 2014

Note 3 – Net Earnings per Share

The following table shows the computation of basic and diluted net earnings per share for the three and nine months ended May 31, 2014 and 2013:



	Three months ended				Nine months ended
	May 31,		May 31,		May 31,		May 31,
($ and shares in thousands, except per share amounts)	2014		2013		2014		2013
Numerator:
Net earnings	$	16,499	$	26,063	$	40,183	$	60,142

Denominator:
Weighted average shares outstanding		12,843		12,858		12,881		12,819
Diluted effect of stock equivalents		46		89		46		75
Weighted average shares outstanding assuming dilution		12,889		12,947		12,927		12,894

Basic net earnings per share	$	1.28	$	2.03	$	3.12	$	4.69
Diluted net earnings per share	$	1.28	$	2.01	$	3.11	$	4.66

Certain stock options and restricted stock units are excluded from the computation of diluted net earnings per share because their effect is anti-dilutive. Performance stock units are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied. The following table shows the securities excluded from the computation of earnings per share:


	Three months ended		Nine months ended
	May 31,		May 31,
Units and options in thousands	2014	2013	2014	2013
Restricted stock units	-	-	4	4
Stock options	47	23	43	30
Performance stock units	13	12	13	12

- Definition

The entire disclosure for earnings per share.

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