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6) Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Notes  
6) Earnings Per Share

 

6)      Earnings Per Share

 

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

 

 

Three Months Ended June 30

Six Months Ended June 30

2014

2013

2014

2013

Numerator:

Net earnings

$     2,624,063

$     2,799,245

$     2,762,911

$     4,832,511

Denominator:

Basic weighted-average shares outstanding

      11,835,185

      11,724,522

      11,844,936

      11,669,542

Effect of dilutive securities:

Employee stock options

           426,112

           846,990

           433,566

           888,095

Diluted weighted-average shares outstanding

      12,261,297

      12,571,512

      12,278,502

      12,557,637

Basic net earnings per share

$0.22

$0.24

$0.23

$0.41

Diluted net earnings per share

$0.21

$0.22

$0.23

$0.38

 

 

 

Net earnings per share amounts have been adjusted for the effect of annual stock dividends. For the six months ended June 30, 2014 and 2013, there were 142,972 and 5,250 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.