Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

10. EARNINGS PER SHARE

Basic earnings per share is calculated based on net income attributable to Ocean Bio-Chem, Inc. and the weighted average number of shares outstanding during the reported period.  Diluted earnings per share reflect additional dilution from potential common stock issuable upon the exercise of outstanding stock options.  The following table sets forth the computation of basic and diluted earnings per common share, as well as a reconciliation of the weighted average number of common shares outstanding to the weighted average number of shares outstanding on a diluted basis.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Earnings per common share -Basic
Net income attributable to OBCI	$	770,618	$	1,137,685	$	1,497,922	$	2,175,382
Weighted average number of common shares outstanding		8,288,613		7,997,613		8,201,376		7,916,932
Earnings per common share - Basic	$	0.09	$	0.14	$	0.18	$	0.27
Earnings per common share – Diluted
Net income attributable to OBCI	$	770,618	$	1,137,685	$	1,497,922	$	2,175,382
Weighted average number of common shares outstanding		8,288,613		7,997,613		8,201,376		7,916,932
Effect of employee stock-based awards		306,893		540,193		339,401		477,481
Weighted average number of common shares outstanding - assuming dilution		8,595,506		8,537,806		8,540,777		8,394,413
Earnings per common share - Diluted	$	0.09	$	0.13	$	0.18	$	0.26

The Company had no stock options outstanding for the three and nine months ended September 30, 2012 and 2011, respectively, that were anti-dilutive and therefore not included in the diluted earnings per common share calculation.