Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.24.2
Income per Common Share
 6 Months Ended
May 31, 2024
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, 2024

 

 

May 31, 2023

 

 

May 31, 2024

 

 

May 31, 2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

655,790

 

 

$

220,976

 

 

$

1,212,031

 

 

$

987,788

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,117,479

 

 

 

8,325,101

 

 

 

8,197,223

 

 

 

8,395,307

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

114,848

 

 

 

6,810

 

 

 

78,191

 

 

 

7,231

 

Weighted-average shares-diluted

 

 

8,232,327

 

 

 

8,331,911

 

 

 

8,275,414

 

 

 

8,402,538

 

Income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.08

 

 

$

0.03

 

 

$

0.15

 

 

$

0.12

 

Diluted

 

$

0.08

 

 

$

0.03

 

 

$

0.15

 

 

$

0.12

 

 

For the three months ended May 31, 2024, the Company excluded the effect of 527,700 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, 2024, the Company excluded the effect of 639,745 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, 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.