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Net Income Per Share Computations
 6 Months Ended
Jun. 30, 2016
Net Income Per Share Computations [Abstract]  
Net Income Per Share Computations

3.   NET INCOME PER SHARE COMPUTATIONS 



The following is a reconciliation of the numerator and denominator of the earnings per common share computations   for the six months ended June 30, 2016 and 2015:





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2016

 

2015

 

2016

 

2015

Net income (numerator) amounts used for basic and diluted per share computations:

 

$

 2,274,900 

 

$

 571,650 

 

$

 2,585,654 

 

$

 960,254 



 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares (denominator) of common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 4,275,001 

 

 

 4,220,703 

 

 

 4,266,290 

 

 

 4,215,158 

Plus dilutive effect of stock options

 

 

 27,386 

 

 

 9,235 

 

 

 21,292 

 

 

 3,702 

Diluted

 

 

 4,302,387 

 

 

 4,229,938 

 

 

 4,287,582 

 

 

 4,218,860 



 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

.53

 

$

.14

 

$

.61

 

$

.23

Diluted

 

 

.53

 

 

.14

 

 

.60

 

 

.23



Options to purchase 45,000 shares of common stock at an average price of $12.80 per share were outstanding but not included in the computation of diluted net income per share for the six months ended June 30, 2016 because the options were out of the money at June 30, 2016. 



Options to purchase 75,000 shares of common stock at an average price of $13.45 per share were outstanding but not included in the computation of diluted net income per share for the three and six months ended June 30, 2015 because the options were out of the money at June 30, 2015.