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Net Income per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Net Income Per Share
11. Net Income Per Share

 

Basic net income per share of common stock is computed based upon the number of weighted average shares of common stock outstanding as defined by ASC Topic 260, Earnings Per Share. Diluted net income per share of common stock includes the dilutive effects of stock options and stock equivalents. To the extent stock options are antidilutive, they are excluded from the calculation of diluted net income per share of common stock. For the three and six months ended June 30, 2020, 707,818 of shares upon the exercise of outstanding stock options were not included in the computation of diluted net income per share for continuing operations because their inclusion would be antidilutive. For the three and six months ended June 30, 2019, 1,045,468 and 1,056,808 shares upon the exercise of outstanding stock options, respectively, and 79,286 shares of unvested restricted stock were not included in the computation of diluted net income per share for continuing operations because their inclusion would be antidilutive.

 

The following table summarizes the net income per share calculation:

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2020   2019   2020   2019 
Net income from continuing operations – basic and diluted  $531,541   $284,394   $93,157   $368,109 
Weighted average shares outstanding – basic   6,869,027    6,874,679    6,871,299    6,874,314 
Weighted average shares outstanding – diluted   6,869,027    6,886,900    6,871,299    6,875,195 
Per share data:                    
Basic from continuing operations  $0.08   $0.04   $0.01   $0.05 
Diluted from continuing operations  $0.08   $0.04   $0.01   $0.05 

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2020   2019   2020   2019 
Net income from discontinued operations – basic and diluted  $-   $158,990   $-   $721,890 
Weighted average shares outstanding – basic   6,869,027    6,874,679    6,871,299    6,874,314 
Weighted average shares outstanding – diluted   6,869,027    6,886,900    6,871,299    6,875,195 
Per share data:                    
Basic from discontinued operations  $-   $0.02   $-   $0.11 
Diluted from discontinued operations  $-   $0.02   $-   $0.11 

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2020   2019   2020   2019 
Net income - basic and diluted  $531,541   $443,384   $93,157   $1,089,999 
Weighted average shares outstanding – basic   6,869,027    6,874,679    6,871,299    6,874,314 
Weighted average shares outstanding – diluted   6,869,027    6,886,900    6,871,299    6,875,195 
Per share data:                    
Basic  $0.08   $0.06   $0.01   $0.16 
Diluted  $0.08   $0.06   $0.01   $0.16