Net Income per Share

3 Months Ended

Mar. 31, 2025

Net Income per Share [Abstract]

Net Income per Share

(7) Net Income per Share

Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.

	3 Months Ended
	March 31,
		2025		2024
Weighted average common shares outstanding – basic		10,722,401		10,722,401
Potential shares exercisable under stock option plans		341,950		258,000
Less: Shares which could be repurchased under treasury stock method		(232,372	)	(213,492	)
Weighted average common shares outstanding – diluted		10,831,979		10,766,909

For the three months ended March 31, 2025, the computation of diluted net income per share excludes the effects of the assumed exercise of 611,850 stock options, since their inclusion would be anti-dilutive as their exercise prices were above average market value.

For the three months ended March 31, 2024, the computation of diluted net income per share excludes the effects of the assumed exercise of 529,900 stock options, since their inclusion would be anti-dilutive as their exercise prices were above average market value.