Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.2.0.727
Income per Common Share
6 Months Ended
May. 31, 2015
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      Six Months Ended  
     May 31, 2015      May 31, 2014      May 31, 2015      May 31, 2014  

Numerator:

           

Net Income

   $ 210,032       $ 215,773       $ 496,202       $ 612,885   
  

 

 

    

 

 

    

 

 

    

 

 

 

Denominator:

           

Weighted-average shares outstanding-basic

     9,809,127         10,250,471         9,816,762         10,467,914   

Dilutive common shares issuable upon exercise of stock options

     233,477         156,136         232,553         127,676   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted-average shares-diluted

     10,042,604         10,406,607         10,049,315         10,595,590   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income per common share:

           

Basic

   $ 0.02       $ 0.02       $ 0.05       $ 0.06   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted

   $ 0.02       $ 0.02       $ 0.05       $ 0.06   
  

 

 

    

 

 

    

 

 

    

 

 

 

For the three and six months ended May 31, 2015, the Company excluded the effect of 271,000 and 271,000, 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 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.