2. Per Share Data

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

2. Per Share Data

Basic earnings per share is calculated by dividing net income by the weighted average of the number of outstanding common shares during the period. The Company had net income of $1,799,000 for the three months ended June 30, 2018 as compared to net income of $365,000 for the three months ended June 30, 2017. The Company had net income of $3,492,000 for the six months ended June 30, 2018 as compared to net income of $424,000 for the six months ended June 30, 2017.