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Earnings Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

(14) Earnings Per Share

 

For the years ended December 31, 2015, 2014 and 2013, basic and diluted net income per share are calculated as follows:

 

     Year Ended    
  December 31, 
  2015  2014  2013 
Basic income per share         
Net Income for the year - numerator $11,542,205  $11,706,360  $13,014,648 
Weighted average common stock outstanding - denominator  20,316,400   19,270,394   18,458,446 
Net income per share $0.57  $0.61  $0.71 
             
Diluted income per share            
Net Income for the year - numerator $11, 542,205  $11,706,360  $13,014,648 
Weighted average common stock outstanding - denominator  20,316,400   19, 270,394   18,458,446 
Effect of dilution            
Warrant            
Weighted average common stock outstanding - denominator  20,316,400   19, 270,394   18,458,446 
Diluted income per share $0.57  $0.61  $0.71 

 

For the year ended December 31, 2013, there were no securities with dilutive effect issued and outstanding. For the year ended December 31, 2015 and 2014, 820,312 shares related to warrants are excluded from the calculations of dilutive net income per share as their effects would have been anti-dilutive since the average share price for the year ended December 31, 2015 and 2014 were lower than the warrants exercise price.