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6) Earnings Per Share

3 Months Ended

Mar. 31, 2019

Notes

6) Earnings Per Share

6)      Earnings Per Share

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

			Three Months Ended March 31
			2019		2018
Numerator:
Net earnings			$     1,930,318		$   16,925,923
Denominator:
Basic weighted-average shares outstanding			17,239,564		16,993,229
Effect of dilutive securities:
Employee stock options			210,556		185,183
Diluted weighted-average shares outstanding			17,450,120		17,178,412
Basic net earnings per share			$0.11		$1.00
Diluted net earnings per share			$0.11		$0.99

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the three months March 31, 2019 and 2018, there were 984,415 and 589,822 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.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

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