Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

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EARNINGS (LOSS) PER SHARE
3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
NOTE F - EARNINGS (LOSS) 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 convertible securities. Potential shares of 3,160,000 and 3,805,000 at March 31, 2016 and March 31, 2015, respectively, consisted of options and warrants.  Computations of basic and diluted weighted average common shares outstanding are as follows:

 

   

Three Months Ended

March 31,

 
             
    2016     2015  
             
Weighted-average common shares outstanding – basic     23,252,751       24,089,009  
Dilutive effect of options and warrants     1,013,822       1,411,894  
Weighted-average common shares outstanding – diluted     24,266,573       25,500,903  
Options and warrants excluded from the computation of diluted income per share because the effect of inclusion would have been anti-dilutive     480,000       105,000