NET INCOME PER COMMON SHARE

3 Months Ended

Mar. 31, 2013

NET INCOME PER COMMON SHARE

10.           NET INCOME PER COMMON SHARE

The following table presents a reconciliation of the net income and shares used in calculating basic and diluted earnings per share for the quarters ended March 31, 2013 and 2012.

	For the Quarter Ended
	March 31, 2013		March 31, 2012
Net income (loss)	$	870,278	$	901,806
Less: Preferred stock dividends		17,992		3,938
Net income (loss) available to common shareholders, prior to   adjustment for dilutive potential common shares, if necessary		852,286		897,868
Add: Interest on Convertible Senior Notes, if dilutive		10,450		6,000
Net income (loss) available to common shareholders, as adjusted	$	862,736	$	903,868
Weighted average shares of common stock outstanding-basic		947,250		971,728
Add:  Effect of dilutive stock options and Convertible Senior Notes, if dilutive		47,565		38,861
Weighted average shares of common stock outstanding-diluted		994,815		1,010,589

Options to purchase 3.4 million shares of common stock were outstanding and considered anti-dilutive as their exercise price and associated option expense exceeded the average stock price for the quarter ended March 31, 2013.  Options to purchase 2.8 million shares of common stock were outstanding and considered anti-dilutive as their exercise price and option expense exceeded the average stock price for the quarter ended March 31, 2012.