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The following table sets forth the computation of basic and
diluted earnings per share:
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For the Three Month
Periods Ended
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For the Nine Month
Periods Ended
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Description
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August 31,
2012 |
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August 31,
2011 |
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August 31,
2012 |
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August 31,
2011 |
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Net income
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$ |
4,988,508 |
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$ |
590,639 |
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$ |
12,712,309 |
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$ |
4,486,921 |
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Basic and diluted weighted average shares
(1)
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9,182,699 |
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9,164,865 |
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9,180,776 |
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9,156,171 |
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Basic and diluted earnings per share
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$ |
0.54 |
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$ |
0.06 |
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$ |
1.38 |
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$ |
0.49 |
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| (1) |
Warrants to purchase shares of common stock were outstanding during the periods reflected in the table above, but were not included in the computation of diluted
earnings per share because the warrants’ exercise price was greater than the average market value of the common shares and, therefore, the effect would be anti-dilutive. |
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