XML 46 R35.htm IDEA: XBRL DOCUMENT v3.20.2
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 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

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (basic)

 

$

10,134

 

 

$

7,530

 

 

$

17,487

 

 

$

18,910

 

Net earnings (diluted)

 

$

10,134

 

 

$

7,530

 

 

$

17,487

 

 

$

18,910

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding (basic)

 

 

11,012,060

 

 

 

11,550,335

 

 

 

11,156,263

 

 

 

11,674,298

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock equivalent shares from stock options

 

 

—

 

 

 

62,538

 

 

 

—

 

 

 

58,844

 

Weighted-average shares outstanding (diluted)(1)

 

 

11,012,060

 

 

 

11,612,873

 

 

 

11,156,263

 

 

 

11,733,142

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.92

 

 

$

0.65

 

 

$

1.57

 

 

$

1.62

 

Diluted

 

$

0.92

 

 

$

0.65

 

 

$

1.57

 

 

$

1.62

 

 

(1) Outstanding options and the closing price of the Company's stock as of September 30, 2020 had an anti-dilutive effect on the weighted-average common shares outstanding for the three and nine months ended September 30, 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.