Quarterly report pursuant to Section 13 or 15(d)

Net (Loss) Income Per Common Share

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Net (Loss) Income Per Common Share
 9 Months Ended
Aug. 31, 2011
Net (Loss) Income Per Common Share [Abstract]  
Net (Loss) 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      Nine Months Ended  
     August 31,
2011 		    August 31,
2010 		     August 31,
2011 		    August 31,
2010 		 

Numerator:

          

Net (Loss) Income

    $ (2,382,416 )    $ 2,363,521       $ (1,971,568 )    $ 3,121,866   
  

 

 

    

 

 

     

 

 

    

 

 

  

Denominator:

          

Weighted-average shares outstanding-basic

      11,757,803        11,752,574         11,754,324        11,752,574   

Dilutive common shares issuable upon exercise of stock options

      —          29,527         —          46,702   
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted-average shares-diluted

      11,757,803        11,782,101         11,754,324        11,799,276   
  

 

 

    

 

 

     

 

 

    

 

 

  

Net (loss) income per common share:

          

Basic

    ($ .20 )    $ .20       ($ .17 )    $ .27   
  

 

 

    

 

 

     

 

 

    

 

 

  

Diluted

    ($ .20 )    $ .20       ($ .17 )    $ .26   
  

 

 

    

 

 

     

 

 

    

 

 

  

The Company excluded the effect of all outstanding options from the computation of earnings per share for the three and nine months ended August 31, 2011, as the effect of potentially dilutive shares would be anti-dilutive. The Company excluded the effect of 673,589 and 650,255 outstanding stock options for the three and nine months ended August 31, 2010 from the computation of diluted earnings per share, as the effect of potentially dilutive shares would be anti-dilutive.