Earnings Per Common Share

3 Months Ended

Mar. 31, 2017

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 March 31,
	2017		2016
Numerator:
Net income for basic calculation	$	534,742	$	1,604,125
Adjustments to net income for the impact of dilutive securities		—		—

Net income for dilution calculation	$	534,742	$	1,604,125


Denominator:
Weighted average common shares – basic		11,447,309		11,283,752
Effect of dilutive securities:
RSUs		135,689		133,498
Stock options		193,377		308,556

Weighted average common shares – diluted		11,776,375		11,725,806


Net income per common share:
Basic	$	0.05	$	0.14

Diluted	$	0.05	$	0.14

Potentially dilutive securities include all stock based awards. For the three months ended March 31, 2017 and 2016, certain equity awards were antidilutive.