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NET INCOME PER SHARE COMPUTATIONS
 9 Months Ended
Sep. 30, 2020
NET INCOME PER SHARE COMPUTATIONS  
NET (LOSS) 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 three and nine months ended September 30, 2020 and 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

    

2020

    

2019

    

2020

    

2019

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

 

$

1,849,012

 

$

1,150,485

 

$

923,036

 

$

2,164,832

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares (denominator) of common stock outstanding:

 

 

  

 

 

  

 

 

  

 

 

  

Basic

 

 

4,708,966

 

 

4,604,562

 

 

4,688,282

 

 

4,583,591

Plus dilutive effect of stock options

 

 

 —

 

 

4,425

 

 

3,096

 

 

12,723

Diluted

 

 

4,708,966

 

 

4,608,987

 

 

4,691,378

 

 

4,596,314

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

  

 

 

  

 

 

  

 

 

  

Basic

 

$

0.39

 

$

0.25

 

$

0.20

 

$

0.47

Diluted

 

 

0.39

 

 

0.25

 

 

0.20

 

 

0.47

 

Options to purchase 9,000 shares of common stock at an average price of $13.30 per share were outstanding but not included in the computation of diluted net income per share for the nine months ended September 30, 2020 and September 30, 2019 because the exercise price of the options exceeded the market price of the Company’s common stock at September 30, 2020 and September 30, 2019.