Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Basic and Diluted Earnings Per Share

v3.7.0.1
Note 9 - Basic and Diluted Earnings Per Share
3 Months Ended
Mar. 31, 2017
Notes  
Note 9 - Basic and Diluted Earnings Per Share

NOTE 9 – BASIC AND DILUTED EARNINGS PER SHARE

 

The following table is a reconciliation of the numerator and denominators used in the earnings per share calculation:

 

For the three-months ended March 31, 2017

For the three-months ended March 31, 2016

Income (Numerator)

Shares (Denominator)

Per-Share Amount

Income (Numerator)

Shares (Denominator)

Per-Share Amount

Basic EPS

Net income available to common stockholders

 600,071

50,632,275

$0.01

 (764,617)

53,243,151

$(0.01)

Effect of Dilutive Securities

Stock options & RSUs

 -  

655,130

 -  

 -  

Diluted EPS

Net income available to common stockholders + assumed conversions

600,071

51,287,405

$0.01

(764,617)

53,243,151

$(0.01)

 

Options to purchase 1,199,000 shares of common stock at a weighted average price of $2.03 per share were outstanding during the three-months ended March 31, 2017, but were not included in the computation of diluted EPS because the options’ exercise price was greater than the average market price of the common shares. These options, which expire between March 2018 and October 2025, were still outstanding at March 31, 2017.

 

Options to purchase 2,537,652 shares of common stock at a weighted average price of $1.32 per share were outstanding during the three-months ended March 31, 2016, but were not included in the computation of diluted EPS because the Company reported a net loss during the period and the impact of these shares would be antidilutive. These options, which expire between February 2017 and October 2025, were still outstanding at March 31, 2016.