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Net Earnings Per Share | 12 Months Ended
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Aug. 31, 2021
Earnings Per Share [Abstract] |
Net Earnings Per Share | Note 5 – Net Earnings Per Share The following table shows the computation of basic and diluted net earnings per share for fiscal 2021, 2020, and 2019:
|  | For the years ended August 31, |
($ and shares in thousands, except per share amounts) |  | 2021 |  |  | 2020 |  |  | 2019 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 42,572 |  |  | $ | 38,629 |  |  | $ | 2,172 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 10,886 |  |  |  | 10,823 |  |  |  | 10,781 |
Diluted effect of stock equivalents |  |  | 99 |  |  |  | 38 |  |  |  | 29 |
Weighted average shares outstanding assuming dilution |  |  | 10,985 |  |  |  | 10,861 |  |  |  | 10,810 |
Basic net earnings per share |  | $ | 3.91 |  |  | $ | 3.57 |  |  | $ | 0.20 |
Diluted net earnings per share |  | $ | 3.88 |  |  | $ | 3.56 |  |  | $ | 0.20 |
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:
|  | For the years ended August 31, |
(Units and options in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Restricted stock units |  |  | — |  |  |  | 6 |  |  |  | 8 |
Stock options |  |  | 21 |  |  |  | 34 |  |  |  | 72 |
Performance stock units |  |  | 3 |  |  |  | — |  |  |  | 5 |

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