NOTE 12 – EARNINGS PER SHARE Potentially dilutive securities include stock options and restricted stock units. Diluted earnings per share include only securities that are actually dilutive. Basic and diluted earnings per share are computed as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | Three Months Ended July 31, | | | Six Months Ended July 31, | | | 2026 | | 2025 | | | 2026 | | 2025 | Net income | | $ | 53,302 | | $ | 35,275 | | | $ | 99,365 | | $ | 57,825 | | | | | | | | | | | | | | | Weighted average shares outstanding – basic | | | 14,028 | | | 13,731 | | | | 13,994 | | | 13,680 | Effect of stock awards | | | 136 | | | 400 | | | | 187 | | | 442 | Weighted average shares outstanding – diluted | | | 14,164 | | | 14,131 | | | | 14,181 | | | 14,122 | | | | | | | | | | | | | | | Earnings per share | | | | | | | | | | | | | | Basic | | $ | 3.80 | | $ | 2.57 | | | $ | 7.10 | | $ | 4.23 | Diluted | | $ | 3.76 | | $ | 2.50 | | | $ | 7.01 | | $ | 4.09 | | | | | | | | | | | | | | | Anti-dilutive securities not included | | | — | | | — | | | | — | | | 2 |
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