NOTE 3. Earnings Per Share
Basic earnings per share are computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share are computed similarly to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued. Common share equivalents are excluded from the computation if their effect is anti-dilutive. The Company’s common share equivalents consist of stock options.
Common shares from the potential exercise of certain options are excluded from the computation of diluted earnings (loss) per share if their exercise prices are greater than the Company’s average stock price for the period. For both the three and six month periods ended June 30, 2016, the number of such shares excluded was 551,000. For both the three and six month periods ended June 30, 2015, the number of such shares excluded was 20,000. In addition, because their effect would have been anti-dilutive, common shares from exercise of 571,000 in-the-money options for both the three and six month periods ended June 30, 2016 have been excluded from the computation of net loss per share. For the three and six month periods ended June 30, 2015, the number of such shares excluded were 550,000 and 466,000, respectively.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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