Net Earnings Per Share

9 Months Ended

May. 31, 2015

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, 2015 and 2014:


	Three months ended				Nine months ended
	May 31,		May 31,		May 31,		May 31,
($ and shares in thousands, except per share amounts)	2015		2014		2015		2014
Numerator:
Net earnings	$	12,927	$	16,499	$	29,490	$	40,183
Denominator:
Weighted average shares outstanding		11,690		12,843		11,965		12,881
Diluted effect of stock awards		30		46		35		46
Weighted average shares outstanding assuming dilution		11,720		12,889		12,000		12,927

Basic net earnings per share	$	1.11	$	1.28	$	2.46	$	3.12
Diluted net earnings per share	$	1.10	$	1.28	$	2.46	$	3.11

Certain stock options and restricted stock units were excluded from the computation of diluted net earnings per share because their effect would have been 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 because their effect would have been anti-dilutive:


	Three months ended		Nine months ended
	May 31,		May 31,
Units and options in thousands	2015	2014	2015	2014
Restricted stock units	-	-	4	4
Stock options	47	47	52	43
Performance stock units	-	13	-	13