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Earnings per Share
 3 Months Ended
May 31, 2013
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 and issued and contingently issuable unvested restricted share units and awards.  See Note 14 to these consolidated condensed financial statements for more information regarding these restricted share units and awards.  Options for common stock are excluded from the computation of diluted earnings per share if their effect is antidilutive.

 

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 May 31,

 

 

2013

 

2012

 

 

 

 

 

Weighted average shares outstanding, basic

 

31,908

 

31,699

Incremental shares of common stock attributable to share-based payment arrangements

 

272

 

141

Weighted average shares outstanding, diluted

 

32,180

 

31,840

 

 

 

 

 

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

 

199

 

423

Dilutive securities, as a result of unvested restricted shares

 

234

 

-

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

 

797

 

625