Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.19.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
 
2018
 
2017
 
2016
Numerator:
 
 
 
 
 
Net income (loss) from continuing operations
$
13,097,429

 
$
1,341,362

 
$
(6,993,967
)
Net loss from discontinued operations, net of income taxes
$
—

 
$
—

 
$
(99,334
)
Denominator:
 

 
 

 
 

Denominator for basic earnings per share - weighted average shares
8,806,079

 
8,704,730

 
8,649,745

Effect of dilutive securities:
 

 
 

 
 

Employee stock options and stock grants
71,530

 
22,757

 
—

Denominator for diluted earnings per share - weighted average shares
8,877,609

 
8,727,487

 
8,649,745

 
 
 
 
 
 
Net earnings (loss) per share from continuing operations:
 

 
 

 
 

Basic
$
1.49

 
$
0.15

 
$
(0.81
)
Diluted
$
1.48

 
$
0.15

 
$
(0.81
)
 
 
 
 
 
 
Net loss per share from discontinued operations:
 
 
 
 
 
Basic
$
—

 
$
—

 
$
(0.01
)
Diluted
$
—

 
$
—

 
$
(0.01
)

The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had weighted average shares of common stock of 600 in 2018, 86,524 in 2017 and 295,287 in 2016, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.