Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
NOTE E - EARNINGS PER SHARE

Basic Earnings per share is calculated by dividing the net income by the weighted average number of outstanding common shares during the period. Diluted per share data includes the dilutive effects of options, warrants and restricted stock units. Potential shares of 2,021,250 and 2,940,125 at September 30, 2018 and September 30, 2017, respectively, consisted of options and restricted stock units.  Computations of basic and diluted weighted average common shares outstanding were as follows:

 

   

Nine Months Ended

September 30,

   

Three Months Ended

September 30,

 
    2018     2017     2018     2017  
                         
Weighted-average common shares outstanding – basic     23,767,700       24,185,129       23,525,645       24,150,388  
Dilutive effect of options, warrants and restricted stock units     1,690,253       2,294,955       1,396,789       2,261,751  
Weighted-average common shares outstanding – diluted     25,457,953       26,480,084       24,922,434       26,412,139  

 

Options and restricted stock units excluded from the computation of diluted income per share because the effect of inclusion would have been anti-dilutive