Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

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 included the dilutive effects of stock options and restricted stock units. Potential shares of 945,000 and 2,140,000 at December 31, 2019 and 2018, respectively, consisted of options, restricted stock units. Computations of basic and diluted weighted average common shares outstanding are as follows:

	2019		2018

Weighted-average common shares outstanding - basic		23,978,774		23,763,785

Dilutive effect of stock options and restricted stock units		-		1,591,193

Weighted-average common shares outstanding - diluted		23,978,774		25,354,978

Stock options and restricted stock units excluded from the computation of diluted income per share because the effect of inclusion would have been anti-dilutive		945,000		-