Earnings Per Share

6 Months Ended

Jun. 30, 2017

7. ASC 260 Earnings Per Share (“EPS”) requires dual presentation of basic EPS and diluted EPS on the face of the condensed consolidated statements of operations. Basic EPS is computed as net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects potential dilution that could occur if securities or other contracts, which, for the Company, consists of options to purchase shares of the Company’s common stock, are exercised.

The components of basic and diluted earnings per share were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Numerator:
Net income attributable to AVD	$	4,304	$	3,246	$	7,756	$	6,040
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,050		28,893		28,999		28,851
Dilutive effect of stock options and grants		555		484		562		491
		29,605		29,377		29,561		29,342

For the three and six months ended June 30, 2017 and 2016, no stock options were excluded from the computation of diluted earnings per share.