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6) Earnings Per Share
 9 Months Ended
Sep. 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 September 30

Nine Months Ended September 30

2014

2013

2014

2013

Numerator:

Net earnings

$     2,137,822

$     1,266,491

$     4,900,733

$     6,099,002

Denominator:

Basic weighted-average shares outstanding

      11,840,713

      11,985,488

      11,873,045

      11,776,015

Effect of dilutive securities:

Employee stock options

           447,096

           546,843

           422,575

           597,349

Diluted weighted-average shares outstanding

      12,287,809

      12,532,331

      12,295,620

      12,373,364

Basic net earnings per share

$0.18

$0.11

$0.41

$0.52

Diluted net earnings per share

$0.17

$0.10

$0.40

$0.49

 

Net earnings per share amounts have been adjusted for the effect of annual stock dividends. For the nine months ended September 30, 2014 and 2013, there were 56,912 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.