XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.19.1

Note 9 - Basic and Diluted Earnings Per Common Share | 3 Months Ended
--- | ---
Mar. 31, 2019
Notes to Financial Statements |
Earnings Per Share [Text Block] | 9. Basic and diluted earnings per common share: Basic earnings per common share has been calculated on the basis of net income for the period divided by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to all dilutive potential common shares outstanding at the end of the year assuming that they had been issued, converted or exercised at the later of the beginning of the year or their date of issuance. In computing diluted earnings per share, the treasury stock method is used to determine the number of shares assumed to be purchased from the conversion of common share equivalents or the proceeds of the exercise of options. The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation (Dollar amounts in thousands of U.S. dollars, except per share amounts):
|  | Three months ended March 31, |
|  | 2019 |  |  | 2018 |
Numerator for basic and diluted earnings per common share: |  |  |  |  |  |  |  |
Net income for the period |  |  | 2,799 |  |  |  | 3,744 |
Denominator for basic and diluted earnings per common share: |  |  |  |  |  |  |  |
Basic weighted average number of common shares outstanding |  |  | 10,634,842 |  |  |  | 10,588,718 |
Effect of outstanding stock options |  |  | 201,055 |  |  |  | 203,895 |
Diluted weighted average number of shares outstanding |  |  | 10,835,897 |  |  |  | 10,792,613 |
Basic earnings per common share |  |  | 0.26 |  |  |  | 0.35 |
Diluted earnings per common share |  |  | 0.26 |  |  |  | 0.35 |
For the three months ended March 31, 2019, outstanding options to purchase 121,300 common shares were not included in the computation of diluted income per common share because all such options’ exercise price was greater than the average market price of the common shares for the period as compared to the three months ended March 31, 2018, where 333,300 outstanding options were not included in the computation. During the three months ended March 31, 2019, the Company did not repurchase any shares under the stock buyback program which commenced on February 13, 2019, and will be terminated on or before February 13, 2020, or under the stock buyback program commenced on February 14 2018 and terminated on February 13, 2019. During the three months ended March 31, 2018, no common shares were repurchased and cancelled under the terms of our stock repurchase program which commenced on February 14, 2018, terminated on February 13, 2019 or under the program commenced March 1 2017, and terminated on February 14 2018.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration