Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v2.4.0.8
Income per Common Share
 3 Months Ended
Feb. 28, 2014
Earnings Per Share [Abstract]  
Income per Common Share

Note 2 – Income per Common Share

Net income per common share data are based on net income. The following table sets forth the calculation of basic and diluted earnings per share:

 

     For the three months ended
February 28, 2014		      For the three months ended
February 28, 2013		  

Numerator:

      

Net Income

    $ 397,112       $ 244,006   

Denominator:

      

Weighted-average shares outstanding-basic

      10,690,188         10,982,389   

Dilutive common shares issuable upon exercise of stock options

      73,970         122,705   
  

 

 

     

 

 

  

Weighted-average shares-diluted

      10,764,158         11,105,094   
  

 

 

     

 

 

  

Earnings per share:

      

Basic

    $ 0.04       $ 0.02   
  

 

 

     

 

 

  

Diluted

    $ 0.04       $ 0.02   
  

 

 

     

 

 

  

For the three months ended February 28, 2014, the Company excluded the effect of 551,334 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 February 28, 2013, the Company excluded the effect of 510,589 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.