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4. Per Share Data
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
4. Per Share Data

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average outstanding common shares during the period. Diluted earnings per share is calculated by dividing net income by the number of shares outstanding under the basic calculation and adding all dilutive securities, which consist of options. The Company had income of $1,425,000 for the nine months ended September 30, 2017 and incurred a net loss of ($2,369,000) for the nine months ended September 30, 2016 respectively. Basic and diluted net loss per common share are the same during 2016 as the effect of stock options is anti-dilutive. There were no options outstanding in 2017 that would result in any dilutive effect. Shares underlying stock options not included in the diluted computation amounted to 0 in 2017 and 240,000 in 2016.