Note 3 - Net Income Per Share of Common Stock

3 Months Ended

Feb. 28, 2013

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 February 28, 2013 and February 29, 2012:

	For the three months ended
	February 28, 2013		February 29, 2012
Basic:
Numerator: net income		819,254		193,498
Denominator: average number of common shares outstanding		4,035,052		4,028,193
Basic earnings per common share		0.20		0.05
Diluted:
Numerator: net income		819,254		193,498
Average number of common shares outstanding		4,035,052		4,028,193
Effect of dilutive stock options		12,082		17,932
Denominator: dilutive average number of common shares outstanding		4,047,134		4,046,125
Diluted earnings per common share		0.20		0.05