Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

Earnings Per Share [Text Block]

6)         Earnings (Loss) Per Share

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

	Three Months Ended March 31,
	2012		2011
Numerator:
Net earnings (loss)	$	1,662,183	$	(518,473	)
Denominator:
Basic weighted-average shares outstanding		9,495,878		9,317,297
Effect of dilutive securities:
Employee stock options		90,952		-
Dilutive potential common shares		90,952		-
Diluted weighted-average shares outstanding		9,586,830		9,317,297
Basic earnings loss per share	$	0.18	$	(0.06	)
Diluted earnings loss per share	$	0.17	$	(0.06	)

Earnings (loss) per share amounts have been adjusted for the effect of annual stock dividends. For the three months ended March 31, 2012 and 2011, there were 1,673,261 and 1,551,552 of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net loss per common share as their effect would be anti-dilutive.