Earnings Per Common Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Common Share

9. Earnings Per Common Share

Basic earnings per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per common share is based upon the increased number of common shares that would be outstanding assuming the exercise of dilutive common share options and the consideration of restricted stock awards. The following table details the computation of earnings per common share, basic and diluted:

	For the Three Months Ended         June 30,				For the Six Months Ended         June 30,
	2016		2015		2016		2015
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$	940,836	$	2,928,125	$	2,544,961	$	4,221,495
Income from discontinued operations, net of income tax expense		—		1,138,434		—		1,067,080
Net income for basic calculation	$	940,836	$	4,066,559	$	2,544,961	$	5,288,575
Numerator for diluted per share calculation:
Income from continuing operations	$	940,836	$	2,928,125	$	2,544,961	$	4,221,495
Adjustments to income from continuing operations for the impact of dilutive securities		—		—		—		—
Income from continuing operations for dilution calculation		940,836		2,928,125		2,544,961		4,221,495
Income from discontinued operations, net of income tax expense		—		1,138,434		—		1,067,080
Net income for dilution calculation	$	940,836	$	4,066,559	$	2,544,961	$	5,288,575
Denominator:
Weighted average common shares – basic		11,321,711		11,228,905		11,302,731		11,209,900
Effect of dilutive securities:
RSUs		142,094		125,413		146,490		134,028
Stock options		317,066		335,565		312,989		340,929
Weighted average common shares – diluted		11,780,871		11,689,883		11,762,210		11,684,857
Per common share amounts – basic:
Income from continuing operations	$	0.08	$	0.26	$	0.23	$	0.38
Income from discontinued operations		—		0.10		—		0.09
Net income	$	0.08	$	0.36	$	0.23	$	0.47
Per common share amounts – diluted:
Income from continuing operations	$	0.08	$	0.25	$	0.22	$	0.36
Income from discontinued operations		—		0.10		—		0.09
Net income	$	0.08	$	0.35	$	0.22	$	0.45

Potentially dilutive securities include all stock based awards. For the three and six months ended June 30, 2016 and 2015, only certain equity awards were antidilutive.