Quarterly report [Sections 13 or 15(d)]

Income per Common Share

v3.25.2
Income per Common Share
 6 Months Ended
May 31, 2025
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

 

 

Six Months Ended

 

 

 

May 31, 2025

 

 

May 31, 2024

 

 

May 31, 2025

 

 

May 31, 2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

355,785

 

 

$

655,790

 

 

$

638,640

 

 

$

1,212,031

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,080,161

 

 

 

8,117,479

 

 

 

8,081,149

 

 

 

8,197,223

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

45,559

 

 

 

114,848

 

 

 

77,595

 

 

 

78,191

 

Weighted-average shares-diluted

 

 

8,125,720

 

 

 

8,232,327

 

 

 

8,158,744

 

 

 

8,275,414

 

Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.04

 

 

$

0.08

 

 

$

0.08

 

 

$

0.15

 

Diluted

 

$

0.04

 

 

$

0.08

 

 

$

0.08

 

 

$

0.15

 

 

For the three months ended May 31, 2025, the Company excluded the effect of 823,278 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 six months ended May 31, 2025, the Company excluded the effect of 697,745 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 May 31, 2024, the Company excluded the effect of 527,700 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 six months ended May 31, 2024, the Company excluded the effect of 639,745 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.