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EARNINGS PER SHARE | 3 Months Ended
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Nov. 30, 2020
EARNINGS PER SHARE [Abstract] |
EARNINGS PER SHARE | NOTE 13 – EARNINGS PER SHARE Certain outstanding options are excluded from the diluted earnings per share calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease earnings per share). The options excluded totaled 180,000 for the three months ended November 30, 2020. There were no excluded options for the three months ended November 30, 2019.
|  | Three Months Ended November 30, |
|  | 2020 |  |  | 2019 |
|  | (In thousands, except share and per share amounts) |
Net Income |  | $ | 845 |  |  | $ | 5,763 |
Basic weighted average common shares |  |  | 23,866,740 |  |  |  | 23,826,598 |
Effect of dilutive securities |  |  | 169,739 |  |  |  | 224,097 |
Weighted average shares applicable to diluted earnings per share |  |  | 24,036,479 |  |  |  | 24,050,695 |
Earnings per share - basic |  | $ | 0.04 |  |  | $ | 0.24 |
Earnings per share - diluted |  | $ | 0.04 |  |  | $ | 0.24 |

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