Earnings Per Share

6 Months Ended

Jun. 30, 2018

8. FASB 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,
	2018		2017		2018		2017
Numerator:
Net income attributable to AVD	$	5,599	$	4,304	$	10,254	$	7,756
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,330		29,050		29,309		28,999
Dilutive effect of stock options and grants		860		555		804		562
		30,190		29,605		30,113		29,561

For the three and six months ended June 30, 2018 and 2017, respectively, no stock options were excluded from the computation of diluted earnings per share.