Earnings (Loss) Per Share

3 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share [Text Block]

7)         Earnings (Loss) Per Share

The basic and diluted earnings (loss) per share amounts were calculated as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011			2010
Numerator:
Net earnings (loss)	$	204,867	$	419,419	$	(313,606	)	$	(531,814	)
Denominator:
Basic weighted-average shares outstanding		8,897,813		8,683,770		8,858,902			8,664,291
Effect of dilutive securities:
Employee stock options		42,694		156,879		-			-
Dilutive potential common shares		42,694		156,879		-			-
Diluted weighted-average shares outstanding		8,940,507		8,840,649		8,858,902			8,664,291
Basic earnings loss per share	$	0.02	$	0.05	$	(0.04	)	$	(0.06	)
Diluted earnings loss per share	$	0.02	$	0.05	$	(0.04	)	$	(0.06	)

Earnings (loss) per share amounts have been adjusted for the effect of annual stock dividends. For the three months ended June 30, 2011 and 2010, there were 1,551,552 and 1,814,558 of anti-dilutive employee stock option shares, respectively and for the six months ended June 30, 2011 and 2010, the anti-dilutive employee stock options were 1,939,930 and 1,754,567, respectively, that were not included in the computation of diluted net loss per common share as their effect would be anti-dilutive.