Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

v2.4.0.8
Income (Loss) per Common Share
 6 Months Ended
May 31, 2014
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     Six Months Ended  
     May 31, 2014      May 31, 2013     May 31, 2014      May 31, 2013  

Numerator:

           

Net Income (Loss)

    $ 215,773       ($ 243,658 )    $ 612,885       $ 348   
  

 

 

     

 

 

    

 

 

     

 

 

  

Denominator:

           

Weighted-average shares outstanding-basic

      10,250,471         10,946,743        10,467,914         10,964,370   

Dilutive common shares issuable upon exercise of stock options

      156,136         —          127,676         118,194   
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted-average shares-diluted

      10,406,607         10,946,743        10,595,590         11,082,564   
  

 

 

     

 

 

    

 

 

     

 

 

  

Net income (loss) per common share:

           

Basic

    $ 0.02       ($ 0.02 )    $ 0.06       $ 0.00   
  

 

 

     

 

 

    

 

 

     

 

 

  

Diluted

    $ 0.02       ($ 0.02 )    $ 0.06       $ 0.00   
  

 

 

     

 

 

    

 

 

     

 

 

  

For the three and six months ended May 31, 2014, the Company excluded the effect of 296,001 and 419,334, respectively, 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, 2013, due to the Company incurring net losses, the Company excluded the effect of all outstanding stock options from the computation of diluted earnings per share, as the effect of potentially dilutive shares would be anti-dilutive.

For the six months ended May 31, 2013, the Company excluded the effect of 457,000 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.