Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

9 Months Ended

May 31, 2021

NOTE 15 – 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). No options were excluded for the three and nine months ended May 31, 2021. The excluded options totaled 180,000 and 0 for the three and nine months ended May 31, 2020.


	Three Months Ended				Nine Months Ended
	May 31,		May 31,		May 31,		May 31,
	2021		2020		2021		2020

	(In thousands, except share and per share amounts)
Net income	$	624	$	27	$	18,276	$	6,064
Basic weighted average common shares		23,907,140		23,852,765		23,885,179		23,841,876
Effect of dilutive securities		277,255		200,055		219,229		229,142
Weighted average shares applicable to diluted earnings per share		24,184,395		24,052,820		24,104,408		24,071,018
Earnings per share - basic	$	0.03	$	0.00	$	0.77	$	0.25
Earnings per share - diluted	$	0.03	$	0.00	$	0.76	$	0.25