5. Earnings per share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5. Earnings per share

The following table sets forth the reconciliation of basic weighted average shares outstanding and diluted weighted average shares outstanding:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
	(In thousands, except per share data)
Net income	$	50	$	1,451	$	619	$	3,826
Shares:
Basic:  Weighted average common shares outstanding		8,337		8,582		8,362		8,675
Add:  Dilutive effect of outstanding options as determined by the         treasury stock method		66		113		125		84
Diluted:  Weighted average common and common equivalent shares outstanding		8,403		8,695		8,487		8,759
Net income per common share:
Basic	$	0.01	$	0.17	$	0.07	$	0.44
Diluted	$	0.01	$	0.17	$	0.07	$	0.44

The computation of diluted earnings per share excludes the effect of the potential exercise of stock options, when the average market price of the common stock is lower than the exercise price of the related stock option during the period.  These outstanding stock options are not included in the computation of diluted earnings per share because the effect would be anti-dilutive.  For the three months ended September 30, 2014 and 2013, there were 505,000 and 316,000, respectively, potentially dilutive shares consisting of stock options that were excluded from the calculation of earnings per diluted share.  For the nine months ended September 30, 2014 and 2013, there were 268,500 and 405,000, respectively, potentially dilutive shares consisting of stock options that were excluded from the calculation of earnings per diluted share.