Net Income per Share

6 Months Ended

Jun. 30, 2025

(7) Net Income per Share

Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.


	3 Months Ended				6 Months Ended
	June 30,				June 30,
	2025		2024		2025		2024

Weighted average common shares outstanding – basic	10,767,501		10,722,401		10,744,826		10,722,401
Potential shares exercisable under stock option plans	311,673		227,357		312,731		257,679
Less: Shares which could be repurchased under treasury stock method	(226,100	)	(192,697	)	(214,387	)	(218,358	)
Weighted average common shares outstanding – diluted	10,853,074		10,757,061		10,843,170		10,761,722

For the three and six months ended June 30, 2025, the computation of diluted net income per share excludes the effects of the assumed exercise of 501,450 and 500,450 options, respectively, since their inclusion would be anti-dilutive as their exercise prices were above the average market value.

For the three and six months ended June 30, 2024, the computation of diluted net income per share excludes the effects of the assumed exercise of 645,050 and 615,050 options, respectively, since their inclusion would be anti-dilutive as their exercise prices were above the average market value.