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

6 Months Ended

Feb. 28, 2023

NOTE 13 – EARNINGS PER SHARE

Earnings per share (EPS) is calculated by dividing net income attributable to common shareholders by the weighted-average shares of common stock outstanding during the period. Certain outstanding options are excluded from the diluted EPS calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease EPS). For the three months ended February 28, 2023 and 2022, the Company excluded 593,975 options and 517,980 options because their impact was anti-dilutive. For the six months ended February 28, 2023 and 2022, the Company excluded 603,088 options and 494,728 options because their impact was anti-dilutive.


	Three Months Ended				Six Months Ended
(In thousands, except share and per share amounts)	February 28, 2023		February 28, 2022		February 28, 2023		February 28, 2022
Net income	$	189	$	1,693	$	348	$	3,207

Basic weighted average common shares		24,023,775		23,944,141		24,004,677		23,931,307
Effect of dilutive securities		118,525		240,020		109,412		263,272
Weighted average shares applicable to diluted earnings per share		24,142,300		24,184,161		24,114,089		24,194,579

Earnings per share - basic	$	0.01	$	0.07	$	0.01	$	0.13
Earnings per share - diluted	$	0.01	$	0.07	$	0.01	$	0.13