Quarterly report [Sections 13 or 15(d)]

Income per Common Share

v3.25.3
Income per Common Share
 9 Months Ended
Aug. 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

 

 

Nine Months Ended

 

 

 

August 31, 2025

 

 

August 31, 2024

 

 

August 31, 2025

 

 

August 31, 2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

749,408

 

 

$

1,051,679

 

 

$

1,388,048

 

 

$

2,263,710

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,057,780

 

 

 

8,061,946

 

 

 

8,073,303

 

 

 

8,151,967

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

15,874

 

 

 

111,589

 

 

 

53,311

 

 

 

89,521

 

Weighted-average shares-diluted

 

 

8,073,654

 

 

 

8,173,535

 

 

 

8,126,614

 

 

 

8,241,488

 

Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.09

 

 

$

0.13

 

 

$

0.17

 

 

$

0.28

 

Diluted

 

$

0.09

 

 

$

0.13

 

 

$

0.17

 

 

$

0.27

 

 

 

For the three months ended August 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 nine months ended August 31, 2025, the Company excluded the effect of 784,678 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, 2024, the Company excluded the effect of 591,665 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, 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.