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Net Income Per Share Computations
 9 Months Ended
Sep. 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 nine months ended September 30, 2015 and 2014 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

2015

 

2014

 

2015

 

2014

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

 

$
813,059 

 

$
623,306 

 

$
1,773,313 

 

$
1,472,247 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares (denominator) of common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
4,233,315 

 

 
4,188,120 

 

 
4,221,164 

 

 
4,188,669 

Plus dilutive effect of stock options

 

 
(3,877)

 

 
2 

 

 
775 

 

 
17,037 

Diluted

 

 
4,229,438 

 

 
4,188,122 

 

 
4,221,939 

 

 
4,205,706 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

.19

 

$

.15

 

$

.42

 

$

.35

Diluted

 

 

.19

 

 

.15

 

 

.42

 

 

.35

 

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 nine months ended September 30, 2015 because the options were out of the money at September 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 nine months ended September 30, 2014 because the options were out of the money at September 30, 2014.