Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.22.2.2
Income per Common Share
 9 Months Ended
Aug. 31, 2022
Earnings Per Share [Abstract]  
Income per Common Share

Note 6 – Income per Common Share

The following table sets forth the calculation of basic and diluted net income per common share:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

August 31, 2022

 

 

August 31, 2021

 

 

August 31, 2022

 

 

August 31, 2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

466,820

 

 

$

856,494

 

 

$

1,933,586

 

 

$

2,720,713

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,390,335

 

 

 

8,452,374

 

 

 

8,449,277

 

 

 

7,996,278

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

14,150

 

 

 

239,957

 

 

 

26,384

 

 

 

221,176

 

Weighted-average shares-diluted

 

 

8,404,485

 

 

 

8,692,331

 

 

 

8,475,661

 

 

 

8,217,454

 

Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.06

 

 

$

0.10

 

 

$

0.23

 

 

$

0.34

 

Diluted

 

$

0.06

 

 

$

0.10

 

 

$

0.23

 

 

$

0.33

 

 

 

For the three months ended August 31, 2022, the Company excluded the effect of 690,464 outstanding options from the computation of diluted earnings per share, as the effect of potentially dilutive shares from the outstanding stock options would be anti-dilutive. For the nine months ended August 31, 2022, the Company excluded the effect of 518,850 outstanding options from the computation of diluted earnings per share, as the effect of potentially dilutive shares from the outstanding stock options would be anti-dilutive.

 

For the three months ended August 31, 2021, the Company excluded the effect of 20,000 outstanding options from the computation of diluted earnings per share, as the effect of potentially dilutive shares from the outstanding stock options would be anti-dilutive. For the nine months ended August 31, 2021, the Company excluded the effect of 27,000 outstanding options from the computation of diluted earnings per share, as the effect of potentially dilutive shares from the outstanding stock options would be anti-dilutive.