Note 8 - Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

8. EARNINGS PER SHARE

Net income per share of class A common stock and class B common stock is computed using the two-class method. Basic net income per share is computed by allocating undistributed earnings to common shares and using the weighted-average number of common shares outstanding during the period.  

Diluted net income per share is computed using the weighted-average number of common shares and, if dilutive, the potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method.

The liquidation rights and the rights upon the consummation of an extraordinary transaction are the same for the holders of class A common stock and class B common stock. Other than share distributions and liquidation rights, the amount of any dividend or other distribution payable on each share of class A common stock will be equal to one-sixth (1/6^th) of the amount of any such dividend or other distribution payable on each share of class B common stock. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the class A and class B common stock as if the earnings for the year had been distributed.

The Company excluded 228,036 and 82,455 shares of class A common stock options for the three-month periods ended March 31, 2014 and 2013, respectively, and 2,062 and 13,743 shares of class B common stock options for the three-month period ended March 31, 2014, and 2013, respectively, from the diluted net income per share computation because the exercise or grant price exceeded the fair market value of the common stock on such date.

	For the Three Months Ended March 31, 2014				For the Three Months Ended March 31, 2013
	Class A Common Stock		Class B Common Stock		Class A Common Stock		Class B Common Stock
	(In thousands, except per share data)
Numerator for net income per share - basic:
Allocation of distributed earnings	$	--	$	--	$	1,071	$	1,071
Allocation of undistributed earnings		2,722		2,731		1,164		1,164
Net income attributable to common shareholders	$	2,722	$	2,731	$	2,235	$	2,235
Denominator for net income per share - basic:
Weighted average common shares outstanding - basic		20,742		3,469		20,669		3,445
Net income per share - basic	$	0.13	$	0.79	$	0.11	$	0.65
Numerator for net income per share - diluted:
Net income attributable to common shareholders for basic computation	$	2,722	$	2,731	$	2,235	$	2,235
Denominator for net income per share - diluted:
Weighted average common shares outstanding - basic		20,742		3,469		20,669		3,445
Weighted average effect of dilutive securities:
Stock Options		354		66		361		60
Restricted Stock		38		6		33		6
Weighted average common shares outstanding - diluted		21,134		3,541		21,063		3,511
Net income per share - diluted	$	0.13	$	0.77	$	0.11	$	0.64