Earnings Per Share

3 Months Ended

Mar. 31, 2019

Note 3 – Earnings Per Share

Basic earnings per share are computed by dividing net income by the weighted average number of shares of stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential Common Stock outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents.

The following summarizes the Common Stock included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:

	Three Months Ended March 31,
	2019		2018
Weighted average number of shares for calculation of basic EPS		33,573,411		36,766,411
Stock options, restricted stock awards and restricted stock units under equity incentive plans		159,924		106,996
Weighted average number of shares for calculation of diluted EPS		33,733,335		36,873,407

The following table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.

	Three Months Ended March 31,
	2019		2018
Stock options under equity incentive plans		396,500		1,914,150