Net Income per Share

3 Months Ended

Mar. 31, 2026

(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
	March 31,
	2026			2025

Weighted average common shares outstanding – basic		10,767,501			10,722,401
Potential shares exercisable under stock option plans		268,301			341,950
Less: Shares which could be repurchased under treasury stock method		(188,665	)		(232,372	)

Weighted average common shares outstanding – diluted		10,847,137			10,831,979

For the three months ended March 31, 2026, the computation of diluted net income per share excludes the effects of the assumed exercise of 604,300 options, since their inclusion would be anti-dilutive as their exercise prices were above the average market value.

For the three months ended March 31, 2025, the computation of diluted net income per share excludes the effects of the assumed exercise of 611,850 options, since their inclusion would be anti-dilutive as their exercise prices were above the average market value.