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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share

The computations of basic and diluted earnings per share for the Company were as follows for the:

 

 

 

Three Months Ended March 31,

 

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

Net earnings  (basic)

 

$

6,278

 

 

$

5,337

 

Net earnings (diluted)

 

$

6,278

 

 

$

5,337

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares outstanding (basic)

 

 

11,432,391

 

 

 

11,815,966

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Common stock equivalent shares from stock options

 

 

—

 

 

 

43,492

 

Weighted-average shares outstanding (diluted)(1)

 

 

11,432,391

 

 

 

11,859,458

 

 

 

 

 

 

 

 

 

 

Net earnings per share

 

 

 

 

 

 

 

 

Basic

 

$

0.55

 

 

$

0.45

 

Diluted

 

$

0.55

 

 

$

0.45

 

 

(1) Outstanding options and the closing price of the Company's stock as of March 31, 2020 had an anti-dilutive effect on the weighted-average common shares outstanding for the quarter ended March 31, 2020; therefore, the effect of their conversion has been excluded from the calculation of the diluted weighted-average common shares outstanding for the period. The diluted EPS has been calculated using the basic weighted-average shares outstanding in order to comply with GAAP.