| Calculation of Basic and Diluted Net (Loss) Income per Common Share |
The following table sets forth the calculation of basic and diluted
net (loss) income per common share:
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Three Months Ended |
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Nine Months Ended |
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August 31, 2016 |
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August 31, 2015 |
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August 31, 2016 |
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August 31, 2015 |
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Numerator:
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Net (Loss) Income
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($ |
2,644,361 |
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$ |
7,829,572 |
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(2,130,165 |
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$ |
8,325,774 |
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Denominator:
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Weighted-average shares outstanding-basic
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7,583,771 |
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9,462,102 |
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8,546,110 |
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9,697,679 |
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Dilutive common shares issuable upon exercise of stock options
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— |
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288,095 |
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— |
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247,939 |
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Weighted-average shares-diluted
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7,583,771 |
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9,750,197 |
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8,546,110 |
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9,945,618 |
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Net (loss) income per common share:
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Basic
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($ |
0.35 |
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$ |
0.83 |
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($ |
0.25 |
) |
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$ |
0.86 |
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Diluted
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($ |
0.35 |
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$ |
0.80 |
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($ |
0.25 |
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$ |
0.84 |
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