Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.5.0.2
Income per Common Share
 6 Months Ended
May 31, 2016
Earnings Per Share [Abstract]  
Income per Common Share

Note 8 – 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, 2016      May 31, 2015      May 31, 2016      May 31, 2015  

Numerator:

            

Net Income

    $ 637,132       $ 210,032       $ 514,196       $ 496,202   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted-average shares outstanding-basic

      9,087,807         9,809,127         9,029,909         9,816,762   

Dilutive common shares issuable upon exercise of stock options

      309,423         233,477         306,629         232,553   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares-diluted

      9,397,230         10,042,604         9,336,538         10,049,315   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per common share:

            

Basic

    $ 0.07       $ 0.02       $ 0.06       $ 0.05   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.07       $ 0.02       $ 0.06       $ 0.05   
  

 

 

     

 

 

     

 

 

     

 

 

  

For the three and six months ended May 31, 2016, the Company excluded the effect of 40,000 and 40,000, 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, 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.