XML 32 R16.htm IDEA: XBRL DOCUMENT v3.6.0.2
Note 10 - Net Income Per Common Share
 3 Months Ended
Nov. 30, 2016
Notes to Financial Statements  
Earnings Per Share [Text Block]
10.
              NET INCOME PER COMMON SHARE
 
Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share assumes the exercise of stock options using the treasury stock method, if dilutive.
 
The following is a reconciliation of the earnings per share computation for the
three
months ended
November
 
30,
2016
and
2015:
 
    Three Months Ended
Numerator:   November 30, 2016   November 30, 2015
Net income (loss) attributable to NTIC   $
297,639
     $
(234,351
 )
                 
Denominator:                
Basic – weighted shares outstanding    
4,531,950
      
4,538,371
  
Weighted shares assumed upon exercise of stock options    
26,928
      
—
  
Diluted – weighted shares outstanding    
4,558,878
      
4,538,371
  
Basic earnings (loss) per share:   $
0.07
     $
(0.05
 )
Diluted earnings (loss) per share:   $
0.07
     $
(0.05
 )
 
The dilutive impact summarized above relates to the periods when the average market price of the Company’s common stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share were based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock market method when computing the diluted earnings per share.
 
Excluded from the computation of diluted income per share for the
three
months ended
November
30,
2016
were options outstanding to purchase
211,564
shares of common stock. Excluded from the computation of diluted earnings per share for the
three
months ended
November
30,
2015
were all options outstanding of
295,181
due to the Company’s net loss for the period.