Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.21.2
Income per Common Share
 9 Months Ended
Aug. 31, 2021
Earnings Per Share [Abstract]  
Income per Common Share

Note 6 – 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

 

 

 

August 31,

2021

 

 

August 31,

2020

 

 

August 31,

2021

 

 

August 31,

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

856,494

 

 

$

784,467

 

 

$

2,720,713

 

 

$

2,424,771

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,452,374

 

 

 

7,545,613

 

 

 

7,996,278

 

 

 

7,544,124

 

Dilutive common shares issuable upon exercise of stock options

 

 

239,957

 

 

 

633,852

 

 

 

221,176

 

 

 

593,339

 

Weighted-average shares-diluted

 

 

8,692,331

 

 

 

8,179,465

 

 

 

8,217,454

 

 

 

8,137,463

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.10

 

 

$

0.10

 

 

$

0.34

 

 

$

0.32

 

Diluted

 

$

0.10

 

 

$

0.10

 

 

$

0.33

 

 

$

0.30

 

 

For the three months ended August 31, 2021, the Company excluded the effect of 20,000 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 nine months ended August 31, 2021, the Company excluded the effect of 27,000 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 August 31, 2020, the Company excluded the effect of 7,000 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 nine months ended August 31, 2020, the Company excluded the effect of 196,101 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.