Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

v2.4.0.8
Income (Loss) per Common Share
 9 Months Ended
Aug. 31, 2013
Earnings Per Share [Abstract]  
Income (Loss) per Common Share

Note 2 - Income (Loss) per Common Share

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

 

     Three Months Ended     Nine Months Ended  
     August 31,
2013		      August 31,
2012		     August 31,
2013		      August 31,
2012		  

Numerator:

           

Net Income (Loss)

    $ 194,434       ($ 547,097 )    $ 194,782       ($ 5,454,090 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Denominator:

           

Weighted-average shares outstanding-basic

      10,774,892         11,166,496        10,900,750         11,325,280   

Dilutive common shares issuable upon exercise of stock options

      89,007         —          109,529         —     
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted-average shares-diluted

      10,863,899         11,166,496        11,010,279         11,325,280   
  

 

 

     

 

 

    

 

 

     

 

 

  

Net loss per common share:

           

Basic

    $ 0.02       ($ 0.05 )    $ 0.02       ($ 0.48 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Diluted

    $ 0.02       ($ 0.05 )    $ 0.02       ($ 0.48 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

For the three and nine months ended August 31, 2013, the Company excluded the effect of 588,000 and 511,000, outstanding options, respectively, 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 and nine months ended August 31, 2012, due to the Company incurring net losses for both periods, the Company excluded the effect of 1,151,077 outstanding stock options from the computation of diluted earnings per share, as the effect of potentially dilutive shares would be anti-dilutive.