Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

13

– Earnings Per Share:

The following table represents a reconciliation of basic and diluted earnings per share:

	2018		2017		2016
Net earnings used in the computation of basic and diluted earnings per share (in thousands)	$	16,975	$	15,022	$	14,638
Weighted average shares outstanding - basic		14,937,786		14,510,156		14,082,243
Common stock equivalents		534,347		608,612		815,246
Total weighted average shares outstanding - diluted		15,472,133		15,118,768		14,897,489
Per Share Data:
Basic
Net earnings	$	1.14	$	1.04	$	1.04
Diluted
Net earnings	$	1.10	$	0.99	$	0.98

Awards to purchase an average of

322,000

shares of common stock with a weighted average exercise price of

$21.34

per share were outstanding during

2018

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. Awards to purchase an average of

37,450

shares of common stock with a weighted average exercise price of

$18.65

per share were outstanding during

2017

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. Awards to purchase an average of

124,000

shares of common stock with a weighted average exercise price of

$18.53

per share were outstanding during

2016

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares.