Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.23.2
Income per Common Share
 6 Months Ended
May 31, 2023
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

 

 

 

May 31, 2023

 

 

May 31, 2022

 

 

May 31, 2023

 

 

May 31, 2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

220,976

 

 

$

634,719

 

 

$

987,788

 

 

$

1,466,766

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,325,101

 

 

 

8,437,544

 

 

 

8,395,307

 

 

 

8,479,071

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

6,810

 

 

 

115,541

 

 

 

7,231

 

 

 

164,035

 

Weighted-average shares-diluted

 

 

8,331,911

 

 

 

8,553,085

 

 

 

8,402,538

 

 

 

8,643,106

 

Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.03

 

 

$

0.08

 

 

$

0.12

 

 

$

0.17

 

Diluted

 

$

0.03

 

 

$

0.07

 

 

$

0.12

 

 

$

0.17

 

 

 

For the three months ended May 31, 2023, the Company excluded the effect of 843,678 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 six months ended May 31, 2023, the Company excluded the effect of 843,678 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 May 31, 2022, the Company excluded the effect of 288,381 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 six months ended May 31, 2022, the Company excluded the effect of 90,100 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.