Quarterly report pursuant to Section 13 or 15(d)

Income Per Common Share

v2.4.0.8
Income Per Common Share
 9 Months Ended
Aug. 31, 2014
Earnings Per Share [Abstract]  
Income Per Common Share

Note 2 – 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,
2014		      August 31,
2013		      August 31,
2014		      August 31,
2013		  

Numerator:

            

Net Income

    $ 236,572       $ 194,434       $ 849,457       $ 194,782   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted-average shares outstanding – basic

      10,025,939         10,774,892         10,319,514         10,900,750   

Dilutive common shares issuable upon exercise of stock options

      226,326         89,007         165,335         109,529   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares – diluted

      10,252,265         10,863,899         10,484,849         11,010,279   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per common share:

            

Basic

    $ 0.02       $ 0.02       $ 0.08       $ 0.02   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.02       $ 0.02       $ 0.08       $ 0.02   
  

 

 

     

 

 

     

 

 

     

 

 

  

For the three and nine months ended August 31, 2014, the Company excluded the effect of 262,500 and 288,500, 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, 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.