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Earnings Per Common Share
 3 Months Ended
Aug. 31, 2011
Earnings Per Common Share  
Earnings Per Common Share

NOTE G – EARNINGS PER COMMON SHARE

Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share further includes the dilutive effect of potential common stock consisting of stock options, warrants, and restricted stock units, provided that the inclusion of such securities is not antidilutive.

The following table sets forth the reconciliation of the weighted-average number of common shares:

 

     Three Months Ended  
     Aug 31,
2011		      Aug 31,
2010		  

Basic

      25,024,117         24,754,808   

Effect of dilutive securities

      173,029         277,646   
  

 

 

     

 

 

  

Diluted

      25,197,146         25,032,454   
  

 

 

     

 

 

  

Excluded from the calculation of diluted earnings per common share are options and restricted stock awards issued to employees and non-employees to purchase 1,946,509 shares of common stock for the three months ended August 31, 2011 and options and restricted stock awards issued to employees and non-employees to purchase 2,118,217 shares of common stock for the three months ended August 31, 2010, as their inclusion would be antidilutive. The exercise prices of these options and restricted stock awards were between $0 and $53.92 at August 31, 2011.