6) Earnings Per Share

9 Months Ended

Sep. 30, 2017

Notes

6) Earnings Per Share

6)      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
		2017	2016	2017	2016
Numerator:
	Net earnings	$     1,096,838	$     4,183,005	$           5,442,702	$       11,737,952
Denominator:
	Basic weighted-average shares outstanding	15,256,857	14,830,078	15,159,569	14,744,779
Effect of dilutive securities:
	Employee stock options	285,803	439,535	315,257	421,266
	Diluted weighted-average shares outstanding	15,542,660	15,269,613	15,474,826	15,166,045
Basic net earnings per share		$0.07	$0.28	$0.36	$0.80
Diluted net earnings per share		$0.07	$0.27	$0.35	$0.77

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the nine months ended September 30, 2017 and 2016, there were 486,725 and 250,039 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive.