Quarterly report pursuant to Section 13 or 15(d)

Net Income per Common Share

v2.4.0.6
Net Income per Common Share
 6 Months Ended
May 31, 2012
Net Income per Common Share [Abstract]  
Net Income per Common Share

Note 2 – Net (Loss) Income per Common Share

The following table sets forth the calculation of basic and diluted net (loss) income per common share:

 

                                 
    Three Months Ended     Six Months Ended  
    May 31, 2012     May 31, 2011     May 31, 2012     May 31, 2011  

Numerator:

                                

Net (Loss) Income

     ($3,244,930)       $177,429       ($4,906,993)       $410,848  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

                                

Weighted-average shares outstanding-basic

     11,322,143       11,754,286       11,405,106       11,753,006  

Dilutive common shares issuable upon exercise of stock options

     —         270,866       —         243,311  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average shares-diluted

     11,322,143       12,025,153       11,405,106       11,996,317  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net (loss) income per common share:

                                

Basic

     ($.28)       $.02       ($.43)       $.03  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

     ($.28)       $.01       ($.43)       $.03  
   

 

 

    

 

 

    

 

 

    

 

 

  

For the three and six months ended May 31, 2012, due to the Company incurring net losses for both periods, the Company excluded the effect of all outstanding stock options from the computation of diluted earnings per share, as the effect of potentially dilutive shares would be anti-dilutive. The Company excluded the effect of 169,887 and 177,387 outstanding stock options for the three months and six months ended May 31, 2011, respectively, from the computation of diluted earnings per share, as the effect of those potentially dilutive shares would be anti-dilutive.