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Earnings per Share
 6 Months Ended
Aug. 31, 2012
Earnings per Share  
Earnings per Share

Note 4 – Earnings per Share

 

We compute basic earnings per share using the weighted average number of shares of common stock outstanding during the period and diluted earnings per share using basic earnings per share plus the effect of dilutive securities.  Our securities that can have dilutive effects consist of outstanding options to purchase common stock.  “In-the-money” options to purchase common stock are dilutive because they have exercise prices that are less than the average market price of our common stock during the period reported.  “Out-of-the-money” options to purchase common stock are antidilutive and are excluded from the computation of earnings per share because the exercise price of the options was greater than the average market price of our common stock during the period reported.  For the periods covered in the accompanying consolidated condensed statements of income, the basic and diluted shares are as follows:

 

WEIGHTED AVERAGE DILUTED SECURITIES

(in thousands)

 

 

Three Months Ended August 31,

 

Six Months Ended August 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

31,743

 

31,292

 

31,721

 

31,074

 

Incremental shares from share-based payment arrangements

 

103

 

439

 

122

 

622

 

Weighted average shares outstanding, diluted

 

31,846

 

31,731

 

31,843

 

31,696

 

 

 

 

 

 

 

 

 

 

 

Dilutive securities, as a result of in-the-money options

 

380

 

665

 

376

 

644

 

Antidilutive securities, as a result of out-of-the-money options

 

617

 

365

 

621

 

386