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6) Earnings (loss) Per Share
 6 Months Ended
Jun. 30, 2012
Notes  
6) Earnings (loss) Per Share

6)      Earnings (Loss) Per Share

 

The basic and diluted earnings (loss) per share amounts were calculated as follows:

 

 

Three Months Ended June 30,

Six Months Ended June 30,

2012

2011

2012

2011

Numerator:

Net earnings (loss)

$ 3,593,032

$   204,867

$ 5,255,215

$  (313,606)

Denominator:

Basic weighted-average shares outstanding

    9,540,238

    9,350,042

    9,518,058

    9,311,131

Effect of dilutive securities:

Employee stock options

      361,526

        42,694

      166,810

0

Dilutive potential common shares

      361,526

        42,694

      166,810

0

Diluted weighted-average shares outstanding

    9,901,764

    9,392,736

    9,684,868

    9,311,131

Basic net earnings (loss) per share

$0.38

$0.02

$0.55

($0.03)

Diluted net earnings (loss) per share

$0.36

$0.02

$0.54

($0.03)

 

Net earnings (loss) per share amounts have been adjusted for the effect of annual stock dividends. For the three and six months ended June 30, 2012 and 2011, there were 1,178,207 and 1,551,552 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net loss per common share as their effect would be anti-dilutive.