Earnings Per Share

9 Months Ended

Sep. 30, 2022

14.	Earnings Per Share

The computation of basic earnings per share is based on the Company’s net income divided by the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options were exercised. The dilutive effect of stock options was calculated using the treasury stock

method.

For the three and nine months ended September 30, 2022, there were

644,000

and

549,000

anti-dilutive stock options excluded from the computation of diluted earnings per share. For the three months and nine months ended September 30, 2021, there were

270,000

anti-dilutive stock options excluded from the computation of diluted earnings

per share.