Earnings per Share

9 Months Ended

Nov. 30, 2016

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 (“RSUs”), and performance-based restricted share units (“PSUs”). 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 awards.

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,
	2016	2015	2016	2015
Weighted average shares outstanding, basic	27,484	28,129	27,700	28,361
Incremental shares from share-based payment arrangements	318	505	358	542
Weighted average shares outstanding, diluted	27,802	28,634	28,058	28,903

Dilutive securities, stock options	325	505	401	553
Dilutive securities, unvested or unsettled stock awards	163	269	163	292
Antidilutive securities, stock options	149	139	142	162