Earnings per Share

9 Months Ended

Nov. 30, 2015

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. We compute diluted earnings per share using the weighted average number of shares of common stock outstanding plus the effect of dilutive securities. Dilutive securities at any given point in time may consist of outstanding stock options, issued and contingently issuable unvested restricted share units, and other performance-based share awards. Options for common stock are excluded from the computation of diluted earnings per share if their effect is antidilutive. See Note 15 to these consolidated condensed financial statements for more information regarding share-based payment arrangements.

For the periods covered below, the basic and diluted shares are as follows:

WEIGHTED AVERAGE DILUTED SECURITIES

(in thousands)


	Three Months Ended November 30,		Nine Months Ended November 30,
	2015	2014	2015	2014
Weighted average shares outstanding, basic	28,129	28,414	28,361	28,630
Incremental shares from share-based payment arrangements	505	410	542	440
Weighted average shares outstanding, diluted	28,634	28,824	28,903	29,070

Dilutive securities, stock options	505	643	553	686
Dilutive securities, unvested or unsettled share awards	269	278	292	267
Antidilutive securities, stock options	139	245	162	240