BASIC AND DILUTED NET EARNINGS PER SHARE |
9 Months Ended | |
|---|---|---|
Sep. 30, 2017 | ||
| Earnings Per Share [Abstract] | ||
| Earnings Per Share |
NOTE 14. BASIC AND DILUTED NET EARNINGS PER SHARE
Basic net earnings per share has been computed using the weighted average number of Class A and Class B shares of common stock outstanding during the period. Restricted stock awards that vested immediately during the three month period ended March 31, 2017, were included in the weighted average number of common shares used to compute basic earnings per share because these restricted stock awards contained dividend participation and voting rights. Diluted net earnings per share is computed using the weighted average number of shares of Class A and Class B common stock outstanding during the period plus the dilutive effects of stock options.
Options to purchase 1,454,462 and 1,729,000 shares of Class A common stock were outstanding at September 30, 2017 and 2016, respectively. Diluted weighted average shares outstanding exclude outstanding stock options whose exercise price is in excess of the average price of the company’s stock price. These options are excluded from the respective computations of diluted net income or loss per share because their effect would be anti-dilutive. As of September 30, 2017 and 2016 there were 335,682 and 367,940 dilutive shares, respectively.
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