Note 3 - Net Income (Loss) Per Share of Common Stock

9 Months Ended

Aug. 31, 2012

Earnings Per Share [Text Block]

(3)          Net Income Per Share of Common Stock

Basic net income per common share has been computed on the basis of the weighted average number of common shares outstanding.  Diluted net income per share has been computed on the basis of the weighted average number of common shares outstanding plus equivalent shares assuming exercise of stock options.

Basic and diluted earnings per common share have been computed based on the following as of August 31, 2012 and August 31, 2011:

	For the three months ended
	August 31, 2012		August 31, 2011
Basic:
Numerator: Net income	$	979,451	$	1,019,840
Denominator: Average number of common shares outstanding		4,035,852		4,019,874
Basic earnings per common share		0.24		0.25
Diluted:
Numerator: Net income	$	979,451	$	1,019,840
Average number of common shares outstanding		4,035,852		4,019,874
Effect of dilutive stock options		16,394		22,261
Denominator: Dilutive average number of common shares outstanding		4,052,246		4,042,135
Diluted earnings per common share		0.24		0.25

	For the nine months ended
	August 31, 2012		August 31, 2011
Basic:
Numerator: Net income	$	2,108,929	$	826,002
Denominator: Average number of common shares outstanding		4,031,828		4,016,039
Basic earnings per common share		0.52		0.21
Diluted:
Numerator: Net income	$	2,108,929	$	826,002
Average number of common shares outstanding		4,031,828		4,016,039
Effect of dilutive stock options		17,408		33,667
Denominator: Dilutive average number of common shares outstanding		4,049,236		4,049,706
Diluted earnings per common share		0.52		0.20