Earnings per Share

9 Months Ended

Nov. 30, 2017

Note 16 – 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 options to purchase common stock and issued and contingently issuable unvested restricted share units (“RSUs”) and performance-based restricted share units (“PSUs”). Due to the net loss for the three and nine months ended November 30, 2017, 154,255 and 164,017 incremental shares from share-based compensation arrangements were excluded from the computation of diluted weighted average shares outstanding, respectively, because their effect would be anti-dilutive. Options for common stock are excluded from the computation of diluted earnings per share if their effect is antidilutive. See Note 6 to these consolidated condensed financial statements for more information regarding share-based compensation awards.

The following table presents our basic and diluted shares for the periods shown:

WEIGHTED AVERAGE DILUTED SECURITIES


	Three Months Ended November 30,		Nine Months Ended November 30,
(in thousands)	2017	2016	2017	2016
Weighted average shares outstanding, basic	27,113	27,484	27,140	27,700
Incremental shares from share-based compensation arrangements	-	318	-	358
Weighted average shares outstanding, diluted	27,113	27,802	27,140	28,058

Dilutive securities, stock options	222	325	236	401
Dilutive securities, unvested or unsettled stock awards	82	163	100	163
Antidilutive securities	354	149	344	142