5) Earnings Per Share

9 Months Ended

Sep. 30, 2016

Notes

5) Earnings Per Share

5)      Earnings Per Share

The basic and diluted earnings per share amounts were calculated as follows:

		Three Months Ended September 30		Nine Months Ended September 30
		2016	2015	2016	2015
Numerator:
	Net earnings	$     5,291,697	$     4,889,785	$         12,442,516	$       10,605,767
Denominator:
	Basic weighted-average shares outstanding	14,113,005	13,804,061	14,027,706	13,681,406
Effect of dilutive securities:
	Employee stock options	418,605	659,909	401,206	602,935
	Diluted weighted-average shares outstanding	14,531,610	14,463,970	14,428,912	14,284,341
Basic net earnings per share		$0.37	$0.35	$0.89	$0.78
Diluted net earnings per share		$0.36	$0.34	$0.86	$0.74

Net earnings per share amounts have been adjusted for the effect of annual stock dividends. For the three and nine months ended September 30, 2016 and 2015, there were 250,039 and -0- of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net loss per common share as their effect would be anti-dilutive.