XML 31 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Computation of Earnings Per Share
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

Note I - 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 shares that were outstanding during the years presented.

The calculation of basic and diluted earnings per share for the year ended December 31 was as follows:

 

 

 

2017

 

 

2016

 

 

2015

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

12,654

 

 

$

15,255

 

 

$

6,675

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Determination of shares (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

5,102

 

 

 

5,166

 

 

 

5,350

 

Dilutive effect - share-based awards

 

 

31

 

 

 

12

 

 

 

16

 

Diluted weighted-average common shares outstanding

 

 

5,133

 

 

 

5,178

 

 

 

5,366

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

2.48

 

 

$

2.95

 

 

$

1.25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$

2.47

 

 

$

2.95

 

 

$

1.24

 

 

For the year ended December 31, 2017, 2016 and 2015, 13,000, 56,850 and 58,350 stock options, respectively, were excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.