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Computation of Earnings Per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

NOTE E – COMPUTATION OF EARNINGS PER SHARE

Basic earnings per share were computed by dividing Net income by the weighted-average number of common shares outstanding for each respective period. Diluted earnings per share were calculated by dividing Net income by the weighted-average of all potentially dilutive common stock that was outstanding during the periods presented.

The calculation of basic and diluted earnings per share for the three months ended March 31, 2017 and 2016 was as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

 

2016

 

Numerator

 

 

 

 

 

 

 

 

Net income

 

$

1,518

 

 

$

2,658

 

Denominator

 

 

 

 

 

 

 

 

Determination of shares

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

5,118

 

 

 

5,211

 

Dilutive effect - share-based awards

 

 

12

 

 

 

18

 

Diluted weighted-average common shares outstanding

 

 

5,130

 

 

 

5,229

 

Earnings per common share

 

 

 

 

 

 

 

 

Basic

 

$

0.30

 

 

$

0.51

 

Diluted

 

$

0.30

 

 

$

0.51

 

 

For the three months ended March 31, 2017 and 2016, 33,350 and 61,800 stock options, respectively, were excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.