Quarterly report pursuant to Section 13 or 15(d)

Capital Stock and Share Repurchase

v3.19.1
Capital Stock and Share Repurchase
 6 Months Ended
Feb. 28, 2019
Earnings Per Share [Abstract]  
Capital Stock and Share Repurchase
Note 11. Capital Stock and Share Repurchases
The Company's Board of Directors authorized the repurchase of shares of the Company's common stock under publicly announced share repurchase programs. Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 20,439,434 shares of common stock for $617.7 million. As of February 28, 2019, the maximum number of shares that may yet be purchased under the programs is 7,560,566 shares. There were no share repurchases in the three and six months ended February 28, 2019.
The reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share amounts):
 
Three Months Ended February 28,
 
Six Months Ended February 28,
 
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net earnings (loss)
$
2,753

 
$
(18,221
)
 
$
(14,699
)
 
$
(12,995
)
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
61,243

 
60,318

 
61,137

 
60,095

Net effect of dilutive securities - stock based compensation plans
364

 
—

 
—

 
—

Weighted average common shares outstanding - diluted
61,607

 
60,318

 
61,137

 
60,095

 
 
 
 
 
 
 
 
Basic earnings (loss) per share
$
0.04

 
$
(0.30
)
 
$
(0.24
)
 
$
(0.22
)
Diluted earnings (loss) per share
$
0.04

 
$
(0.30
)
 
$
(0.24
)
 
$
(0.22
)
 
 
 
 
 
 
 
 
Anti-dilutive securities from stock based compensation plans (excluded from earnings (loss) per share calculation) (1)
1,503

 
1,829

 
2,986

 
1,981

(1) As a result of the impairment & divestiture and restructuring charges for the three month period ended February 28, 2018 and the six month periods ended February 28, 2019 and 2018, which caused net losses for these periods, shares from stock based compensation plans are excluded from the calculation of diluted loss per share, as the result would be anti-dilutive.