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5) Earnings Per Share
 6 Months Ended
Jun. 30, 2017
Notes  
5) Earnings Per Share

5)      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

2017

2016

2017

2016

Numerator:

Net earnings

$     2,485,864

$     5,017,006

$           4,345,864

$         7,554,947

Denominator:

Basic weighted-average shares outstanding

     15,161,689

     14,747,976

            15,110,119

          14,702,187

Effect of dilutive securities:

Employee stock options

           330,588

           363,348

                 344,388

               412,348

Diluted weighted-average shares outstanding

     15,492,277

     15,111,324

            15,454,507

          15,114,535

Basic net earnings per share

$0.16

$0.34

$0.29

$0.51

Diluted net earnings per share

$0.16

$0.33

$0.28

$0.50

 

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the six months ended June 30, 2017 and 2016, there were 330,225 and 250,039 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive.