Note 9 - Basic and Diluted Earnings Per Common Share

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

9

.

Basic and Diluted

Earnings

Per

Common

Share

The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the

three

months ended

March 31, 2018

and

2017.

	For the Three Months Ended
	March 31,
	2018		2017
Net income (numerator)	$	508,000	$	550,000
Shares (denominator):
Basic weighted average common shares outstanding		14,217,919		15,207,659
Add: dilutive effect of common stock options		165,086		94,142
Diluted weighted average common shares outstanding		14,383,005		15,301,801
Earnings per common share:
Basic	$	0.04	$	0.04
Diluted	$	0.04	$	0.04