Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings per Share

Note 6 – 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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Weighted average number of shares for calculation of basic    EPS		32,838,636		36,103,520		33,282,584		36,364,380
Stock options, restricted stock awards and restricted stock    units under equity incentive plans		94,043		344,642		135,971		105,379
Weighted average number of shares for calculation of    diluted EPS		32,932,679		36,448,162		33,418,555		36,469,759

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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Stock options outstanding for equity incentive plans		441,435		12,000		441,435		1,359,250