Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options and restricted stock awards, when dilutive.

 

The following is a reconciliation of the numerator and denominator of the net income per common share computations for the months ended and

 

		Three Months Ended December 31,
		2017				2016
Net income		$	943,158			$	876,930
Weighted average common shares			13,443,945				13,567,484
Dilutive potential common shares			32,472				223,309
Weighted average dilutive common shares outstanding			13,476,417				13,790,793
Net income per common share:
Basic		$	0.07			$	0.06
Diluted		$	0.07			$	0.06