XML 20 R9.htm IDEA: XBRL DOCUMENT

Basic and Diluted Net Income per Share

6 Months Ended

Jun. 30, 2019

Note 3 – Basic and Diluted Net Income per Share

Basic net income per share was computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and restricted stock awards are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

The following is a reconciliation of the share data used in the basic and diluted income per share computations:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Basic:
Weighted average shares outstanding		24,708,923		24,718,430		24,833,002		24,683,264

Diluted:
Weighted average shares outstanding		24,708,923		24,718,430		24,833,002		24,683,264
Weighted average effects of dilutive securities		199,251		177,765		199,251		188,259
Total		24,908,174		24,896,195		25,032,253		24,871,523

Antidilutive securities:		265,700		124,000		265,700		124,000

The effect of the inclusion of the antidilutive shares would have resulted in an increase in earnings per share. Accordingly, the weighted average shares outstanding have not been adjusted for antidilutive shares.