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6) Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Notes  
6) Earnings Per Share

6)      Earnings Per Share

 

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

Three Months Ended September 30

Nine Months Ended September 30

2013

2012

2013

2012

Numerator:

Net earnings

$ 1,266,491

$ 3,990,046

$ 6,099,002

$ 9,245,262

Denominator:

Basic weighted-average shares outstanding

  11,307,249

  10,104,202

  11,097,776

  10,059,548

Effect of dilutive securities:

Employee stock options

      520,803

      896,570

      568,904

        13,404

Dilutive potential common shares

      520,803

      896,570

      568,904

        13,404

Diluted weighted-average shares outstanding

  11,828,052

  11,000,772

  11,666,680

  10,072,952

Basic net earnings per share

$0.11

$0.39

$0.55

$0.92

Diluted net earnings per share

$0.11

$0.36

$0.52

$0.92

 

 

Net earnings per share amounts have been adjusted for the effect of annual stock dividends. For the three and nine months ended September 30, 2013 and 2012, there were 5,250 and -0- 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.