STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

As of March 31, 2019, and December 31, 2018, the Company held 2,550,787 and 1,775,500 shares of its common stock in treasury at a total cost of $3,943,063 and $2,609,485, respectively.

A reconciliation of the changes in stockholders' equity during the three months ended March 31, 2019, and 2018, is shown below:


	Common Stock					Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Retained Earnings		Total Stockholders' Equity
	Shares	Amount
Balance, December 31, 2018	47,932,305	$	49,708	$	28,027,742	$	(2,895,683)	$	(2,609,485)	$	22,683,577	$	45,255,859
Stock based compensation				66,714								66,714
Stock issued in exercise of stock options	2,483	2		(2)								—
Stock issued in settlement of RSUs	13,604	14		(14)								—
Stock issued related to AIP	135,119	135		379,726								379,861
Tax withholdings paid related to stock based compensation				(143,022)								(143,022)
Treasury stock repurchased	(775,287)							(1,333,578)				(1,333,578)
Foreign currency translation						149,415						149,415
Unrealized gains on investments						68,752						68,752
Net income										1,668,618		1,668,618
Balance, March 31, 2019	47,308,224	$	49,859	$	28,331,144	$	(2,677,516)	$	(3,943,063)	$	24,352,195	$	46,112,619


	Common Stock					Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Retained Earnings		Total Stockholders' Equity
	Shares	Amount
Balance, December 31, 2017	48,606,425	$	53,931	$	27,535,469	$	(2,200,462)	$	(6,890,349)	$	25,548,835	$	44,047,424
Stock based compensation				390,585								390,585
Stock issued in exercise of stock options	81,229	81		258,811								258,892
Stock issued in settlement of RSUs	118,762	119		(119)								—
Tax withholdings related to stock based compensation				(83,600)								(83,600)
Treasury stock repurchased								—				—
Foreign currency translation						(239,129)						(239,129)
Unrealized losses on investments						(33,235)						(33,235)
Net income										1,876,228		1,876,228
Balance, March 31, 2018	48,806,416	$	54,131	$	28,101,146	$	(2,472,826)	$	(6,890,349)	$	27,425,063	$	46,217,165