Note 5 - Earnings Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

5.

    

EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing earnings attributable to the Company’s common shareholders by the weighted-average shares outstanding during the period. Diluted EPS includes the dilutive effect of securities, if any, and is calculated using the treasury stock method. For the

three

-month period ended

March 31, 2020,

878,408

stock options and

25,833

restricted stock awards were included in the calculation of Diluted EPS as such securities are dilutive. Inclusion of these securities resulted in

211,286

additional shares in the calculation of fully diluted earnings per share. For the comparable

three

-month period ended

March 31, 2019,

1,052,410

stock options and

11,666

restricted stock awards were included in the calculation of Diluted EPS resulting in

484,843

additional shares in the calculation of fully diluted earnings per share.

There were

653,500

and

448,250

outstanding stock options for the

three

-month periods ended

March 31, 2020

and

March 31, 2019,

respectively, which were

not

included in EPS as the effect would be anti-dilutive.