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Net Income Per Share Computations
 6 Months Ended
Jun. 30, 2015
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, 2015 and 2014 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2015

 

2014

 

2015

 

2014

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

 

$
571,650 

 

$
442,934 

 

$
960,254 

 

$
848,941 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares (denominator) of common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
4,220,703 

 

 
4,185,908 

 

 
4,215,158 

 

 
4,183,512 

Plus dilutive effect of stock options

 

 
9,235 

 

 
14,417 

 

 
3,702 

 

 
18,306 

Diluted

 

 
4,229,938 

 

 
4,200,325 

 

 
4,218,860 

 

 
4,201,818 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

.14

 

$

.11

 

$

.23

 

$

.20

Diluted

 

 

.14

 

 

.11

 

 

.23

 

 

.20

 

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. 

 

Options to purchase 90,000 shares of common stock at an average price of $14.06 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, 2014 because the options were out of the money at June 30, 2014.