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Earnings Per Share

6 Months Ended

Jun. 30, 2019

9. 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,
	2019		2018		2019		2018
Numerator:
Net income attributable to AVD	$	3,106	$	5,599	$	7,012	$	10,254
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,001		29,330		28,989		29,309
Dilutive effect of stock options and grants		539		860		571		804
		29,540		30,190		29,560		30,113

For the three and six months ended June 30, 2019 and 2018, respectively, no stock options were excluded from the computation of diluted earnings per share.