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6) Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30				Six Months Ended June 30
			2019		2018		2019		2018
Numerator:
Net earnings			$   3,480,054		$   3,238,217		$     5,410,372		$     20,164,140
Denominator:
Basic weighted-average shares outstanding			17,255,902		17,074,815		17,247,778		17,031,804
Effect of dilutive securities:
Employee stock options			217,902		245,774		222,948		217,732
Diluted weighted-average shares outstanding			17,473,804		17,320,589		17,470,726		17,249,536
Basic net earnings per share			$0.20		$0.19		$0.31		$1.18
Diluted net earnings per share			$0.20		$0.19		$0.31		$1.17

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the six months June 30, 2019 and 2018, there were 857,227 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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