Note 9 - Basic and Diluted Earnings Per Common Share

3 Months Ended

Mar. 31, 2019

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, 2019

and

2018.

	For the Three Months Ended
	March 31,
	2019		2018
Net income (numerator)	$	1,218,000	$	508,000
Shares (denominator):
Basic weighted average common shares outstanding		13,391,992		14,217,919
Add: dilutive effect of common stock options		77,505		165,086
Diluted weighted average common shares outstanding		13,469,497		14,383,005
Earnings per common share:
Basic	$	0.09	$	0.04
Diluted	$	0.09	$	0.04