NICH » Topics » 3. Earnings Per Share:

This excerpt taken from the NICH 10-Q filed Jan 24, 2008.

3. Earnings per Share

     Basic earnings per common share are computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares issuable upon the exercise of outstanding stock options, warrants or other convertible instruments. The dilutive effect of potential common shares related to outstanding stock options, warrants or other convertible instruments is reflected in diluted earnings per share by application of the treasury stock method.

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This excerpt taken from the NICH 10-K filed Dec 5, 2007.

Earnings Per Share:

     The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any. At August 31, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding. The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006. The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 4,077,014 for fiscal 2006, and 3,513,507 for both fiscal 2005 and 2004.

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This excerpt taken from the NICH 10-K filed Oct 26, 2007.

Earnings Per Share:

     The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any. At August 31, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding. The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006. The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 4,077,014 for fiscal 2006, and 3,513,507 for both fiscal 2005 and 2004.

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This excerpt taken from the NICH 10-Q filed Oct 26, 2007.

4. Earnings Per Share:

     Basic earnings per common share are computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares issuable upon the exercise of outstanding stock options, warrants or other convertible instruments. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.


This excerpt taken from the NICH 10-Q filed Oct 26, 2007.

3. Earnings Per share:

     We calculate earnings per share in accordance with SFAS No. 128 "Earnings per Share". Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares issuable upon the exercise of outstanding stock options, warrants or other convertible instruments. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.

     The following table sets forth the computation of basic and diluted earnings per share (in thousands, except net income and per share amounts):

  Three Months Ended Six Months Ended
  February 28, February 28,
  2007     2006     2007     2006
Numerator:                 
 Net income (net loss)   $ (530,000)     $ 45,000     $ 689,000     $ 565,000
 
Denominator:                 
 Weighted average shares outstanding   5,253,507   4,053,507   5,077,816 3,895,385
 Dilutive effect of options   137,723     -   122,908   -
   Denominator for diluted earnings per share   5,391,230   4,053,507   5,200,724 3,895,385
 
Basic earnings (loss) per share $ (0.10 ) $ 0.01 $ 0.14 $ 0.15
Diluted earnings (loss) per share $ (0.10 ) * $ 0.01 $ 0.13 $ 0.15

* Diluted loss per share is not reported due to the anti-dilutive effect of options on the basic loss per share.



This excerpt taken from the NICH 10-Q filed Oct 26, 2007.

3. Earnings Per Share:

     Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the dilutive potential shares of common stock had been issued. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.

     The following table sets forth the computation of basic and diluted earnings per share (in thousands, except net income and per share amounts):

   Three Months Ended 
   November 30, 
   2006          2005 
Numerator:         
     Net income    $     1,217,000    $     520,000   
Denominator:         
     Weighted average shares outstanding   4,904,056   3,739,002
     Effect of dilutive options      72,752      -
          Denominator for diluted earnings per share   4,976,808   3,739,002
Basic earnings per share $     0.25 $ 0.14
Diluted earnings per share $     0.24 $ 0.14

6


This excerpt taken from the NICH 10-Q filed Jul 24, 2007.

4. Earnings Per Share:

     Basic earnings per common share are computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares issuable upon the exercise of outstanding stock options, warrants or other convertible instruments. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.


This excerpt taken from the NICH 10-Q filed Jul 23, 2007.

4. Earnings Per Share:

     Basic earnings per common share are computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares issuable upon the exercise of outstanding stock options, warrants or other convertible instruments. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.


This excerpt taken from the NICH 10-Q filed Apr 12, 2007.

3. Earnings Per share:

     We calculate earnings per share in accordance with SFAS No. 128 "Earnings per Share". Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares issuable upon the exercise of outstanding stock options, warrants or other convertible instruments. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.

     The following table sets forth the computation of basic and diluted earnings per share (in thousands, except net income and per share amounts):

    Three Months Ended    Six Months Ended 
    February 28,    February 28, 
    2007           2006          2007          2006 
Numerator:                 
 Net income     $ (511,000 )     $ 45,000     $ 798,000     $ 565,000
 
Denominator:                 
 Weighted average shares outstanding   5,253,507   4,053,507   5,077,816 3,895,385
 Dilutive effect of options   137,723     -   122,908   -
   Denominator for diluted earnings per share   5,391,230   4,053,507   5,200,724 3,895,385
 
Basic earnings (loss) per share $ (0.10 ) $ 0.01 $ 0.16 $ 0.15
Diluted earnings (loss) per share $ (0.10 ) * $ 0.01 $ 0.15 $ 0.15
 
* Diluted loss per share is not reported due to the anti-dilutive effect of options on the basic loss per share.


This excerpt taken from the NICH 10-Q filed Jan 31, 2007.

3. Earnings Per Share:

     Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the dilutive potential shares of common stock had been issued. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.

     The following table sets forth the computation of basic and diluted earnings per share (in thousands, except net income and per share amounts):

   Three Months Ended 
   November 30, 
   2006          2005 
Numerator:         
     Net income    $     1,309,000    $     520,000   
Denominator:         
     Weighted average shares outstanding   4,904,056   3,739,002
     Effect of dilutive options      72,752      -
          Denominator for diluted earnings per share   4,976,808   3,739,002
Basic earnings per share $     0.27 $ 0.14
Diluted earnings per share $     0.26 $ 0.14

6


This excerpt taken from the NICH 10-Q filed Jan 31, 2007.

3.     Earnings Per share:

        At May 31, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.  The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006.

This excerpt taken from the NICH 10-K filed Jan 31, 2007.

Earnings Per Share:

     The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any. At August 31, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding. The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006. The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 4,077,014 for fiscal 2006, and 3,513,507 for both fiscal 2005 and 2004.

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This excerpt taken from the NICH 10-Q filed Jan 22, 2007.

3. Earnings Per Share:

     Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the dilutive potential shares of common stock had been issued. The dilutive effect of outstanding options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from outstanding options. Additionally, the exercise of employee stock options can result in a greater dilutive effect on earnings per share.

     The following table sets forth the computation of basic and diluted earnings per share (in thousands, except net income and per share amounts):

   Three Months Ended 
   November 30, 
   2006          2005 
Numerator:         
     Net income    $     1,309,000    $     520,000   
Denominator:         
     Weighted average shares outstanding   4,904,056   3,739,002
     Effect of dilutive options      72,752      -
          Denominator for diluted earnings per share   4,976,808   3,739,002
Basic earnings per share $     0.27 $ 0.14
Diluted earnings per share $     0.26 $ 0.14

6


This excerpt taken from the NICH 10-K filed Dec 14, 2006.

Earnings Per Share:

     The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any. At August 31, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding. The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006. The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 4,077,014 for fiscal 2006, and 3,513,507 for both fiscal 2005 and 2004.

- 24 -


This excerpt taken from the NICH 10-Q filed Jul 21, 2006.

3.     Earnings Per share:

        At May 31, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.  The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006.

This excerpt taken from the NICH 10-Q filed Jul 17, 2006.

3.          Earnings Per share:

          At November 30, 2005, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.

This excerpt taken from the NICH 10-K filed Jul 17, 2006.

Earnings Per Share:

          The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any.  The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 1,171,169 for fiscal 2005, 2004 and 2003.

23


This excerpt taken from the NICH 10-Q filed Apr 19, 2006.

3.          Earnings Per share:

          At February 28, 2006, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.  The earnings per share computations have been adjusted retroactively for all periods presented to reflect a 200% stock dividend issued on January 20, 2006.

This excerpt taken from the NICH 10-Q filed Jan 19, 2006.

3.          Earnings Per share:

     At November 30, 2005, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.

This excerpt taken from the NICH 10-K filed Dec 15, 2005.

Earnings Per Share:

          The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any.  The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 1,171,169 for fiscal 2005, 2004 and 2003.

23


This excerpt taken from the NICH 10-Q filed Jul 21, 2005.

3.     Earnings Per share:

          At May 31, 2005 and 2004, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.

This excerpt taken from the NICH 10-K filed Feb 16, 2005.

Earnings Per Share:

       The computation of net income per common share is based on the weighted average number of common shares outstanding plus common share equivalents arising from dilutive stock options, if any.  The weighted average number of common shares and common share equivalents outstanding for basic and diluted earnings per share was 1,171,169 for fiscal 2004 and 2003, and 1,111,944 for fiscal 2002.  Earnings per share for all periods prior to 2002 included in these financial statements and footnotes have been restated to give effect to a 10% stock dividend issued March 29, 2002.

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Nitches Inc, and Subsidiaries
Notes to the Consolidated Financial Statements (continued)

This excerpt taken from the NICH 10-Q filed Jan 14, 2005.

3.          Earnings Per share:

          At November 30, 2004, there were no stock options or similar instruments outstanding and therefore no dilutive effect to the number of shares outstanding.

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