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6) Earnings Per Share
 6 Months Ended
Jun. 30, 2018
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

2018

2017

2018

2017

Numerator:

Net earnings

$     3,238,217

$     2,485,864

$         20,164,140

$         4,345,864

Denominator:

Basic weighted-average shares outstanding

     16,252,998

     15,931,031

            16,209,987

          15,879,461

Effect of dilutive securities:

Employee stock options

           234,070

           347,117

                 207,364

               361,607

Diluted weighted-average shares outstanding

     16,487,068

     16,278,148

            16,417,351

          16,241,068

Basic net earnings per share

$0.20

$0.16

$1.24

$0.27

Diluted net earnings per share

$0.20

$0.15

$1.23

$0.27

 

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the six months June 30, 2018 and 2017, there were 589,822 and 330,225 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.