Quarterly report pursuant to Section 13 or 15(d)

Income Per Common Share

v2.4.1.9
Income Per Common Share
 3 Months Ended
Feb. 28, 2015
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, 2015		      For the three months ended
February 28, 2014		  

Numerator:

      

Net Income

    $ 286,170       $ 397,112   

Denominator:

      

Weighted-average shares outstanding-basic

      9,824,566         10,690,188   

Dilutive common shares issuable upon exercise of stock options

      234,083         73,970   

Weighted-average shares-diluted

      10,058,649         10,764,158   
  

 

 

     

 

 

  

Earnings per share:

Basic

 $ 0.03    $ 0.04   
  

 

 

     

 

 

  

Diluted

 $ 0.03    $ 0.04   
  

 

 

     

 

 

  

For the three months ended February 28, 2015, the Company excluded the effect of 271,000 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. 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.