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Computation of Earnings Per Share

3 Months Ended

Mar. 31, 2019

NOTE G – 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, 2019 and 2018 was as follows:

	Three Months Ended March 31, 2019
	2019		2018
Numerator
Net income	$	1,824	$	5,528
Denominator
Determination of shares
Weighted-average common shares outstanding		5,045		5,046
Dilutive effect - share-based awards		9		18
Diluted weighted-average common shares outstanding		5,054		5,064
Earnings per common share
Basic	$	0.36	$	1.10
Diluted	$	0.36	$	1.09

For the three-month period ended March 31, 2019, no stock options were excluded in the calculation of diluted earnings per share as there was no anti-dilutive effect. For the three-month period ended March 31, 2018, 12,000 stock options, were excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.