XML 22 R7.htm IDEA: XBRL DOCUMENT

Note 2. Net Income (loss) Per Common Share

3 Months Ended

Dec. 31, 2012

Note 2. Net Income (loss) Per Common Share

NOTE 2. NET INCOME (LOSS) PER COMMON SHARE

Net income (loss) per common share is computed based on the weighted-average number of common shares outstanding and, when appropriate, dilutive common stock equivalents outstanding during the period. Stock options are considered to be common stock equivalents. The computation of diluted net income (loss) per common share does not assume exercise or conversion of securities that would have an anti-dilutive effect.

Basic net income (loss) per common share is the amount of net income (loss) for the period available to each weighted-average share of common stock outstanding during the reporting period. Diluted net income (loss) per common share is the amount of net income (loss) for the period available to each weighted-average share of common stock outstanding during the reporting period and to each common stock equivalent outstanding during the period, unless inclusion of common stock equivalents would have an anti-dilutive effect.

The reconciliations between the basic and diluted weighted-average number of common shares outstanding for the three and six months ended December 31, 2012 and 2011 are as follows:

	Three Months Ended				Six Months Ended
	December 31				December 31
	2012		2011		2012		2011
Basic weighted-average number of common shares outstanding during the period	2,537,737		2,558,533		2,537,733		2,575,405
Weighted-average number of dilutive common stock options outstanding during the period	520		7,925		562		-
Diluted weighted-average number of common and common equivalent shares outstanding during the period	2,538,257		2,566,458		2,538,295		2,575,405

Outstanding options for common shares not included in the computation of diluted net income (loss) per common share, because they were anti-dilutive, for the three months ended December 31, 2012 and 2011 totaled 165,567 and 162,092, respectively, and for the six months ended December 31, 2012 and 2011 totaled 165,567 and 172,124, respectively.

Disclosure of the methodology and assumptions used in the reconciliation of earnings per share, which may include the individual income and share amount effects of all securities that affect earnings per share, the effect that has been given to preferred dividends in arriving at income available to common stockholders in computing basic earnings per share, securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic EPS in the future that were not included in the computation of diluted EPS because to do so would have been antidilutive for the period(s) presented and a description of any transaction that occurs after the end of the most recent period but before issuance of the financial statements that would have changed materially the number of common shares or potential common shares outstanding at the end of the period if the transaction had occurred before the end of the period.

+ References+ Details