Earnings
per share have been retroactively adjusted for the effect of annual stock dividends. In accordance with GAAP, the basic and diluted earnings
per share were calculated as follows:
Schedule of Earnings Per Share, Basic and Diluted
| | |
| | |
| |
| | |
Three Months Ended
March 31, | |
| | |
2026 | | |
2025 | |
| Numerator: | |
| | | |
| | |
| Net earnings | |
$ | 7,001,426 | | |
$ | 6,413,735 | |
| Denominator: | |
| | | |
| | |
| Basic weighted-average shares outstanding | |
| 24,818,596 | | |
| 24,699,405 | |
| Effect of dilutive securities: | |
| | | |
| | |
| Employee stock options | |
| 721,312 | | |
| 992,242 | |
| Unvested restricted stock units | |
| 749 | | |
| - | |
| | |
| | | |
| | |
| Diluted weighted-average shares outstanding | |
| 25,540,657 | | |
| 25,691,647 | |
| | |
| | | |
| | |
| Basic net earnings per share | |
$ | 0.28 | | |
$ | 0.26 | |
| | |
| | | |
| | |
| Diluted net earnings per share | |
$ | 0.27 | | |
$ | 0.25 | |
|