Note 3 - Net Income Per Share of Common Stock

9 Months Ended

Aug. 31, 2013

Earnings Per Share [Abstract]

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, 2013 and August 31, 2012:

	For the three months ended
	August 31, 2013		August 31, 2012
Basic:
Numerator: net income	$	26,394	$	979,451
Denominator: average number of common shares outstanding		4,041,682		4,035,852
Basic earnings per common share	$	0.01	$	0.24
Diluted:
Numerator: net income	$	26,394	$	979,451
Average number of common shares outstanding		4,041,682		4,035,852
Effect of dilutive stock options		16,091		16,394
Denominator: dilutive average number of common shares outstanding		4,057,773		4,052,246
Diluted earnings per common share	$	0.01	$	0.24

	For the nine months ended
	August 31, 2013		August 31, 2012
Basic:
Numerator: net income	$	1,359,894	$	2,108,929
Denominator: average number of common shares outstanding		4,038,118		4,031,828
Basic earnings per common share	$	0.34	$	0.52
Diluted:
Numerator: net income	$	1,359,894	$	2,108,929
Average number of common shares outstanding		4,038,118		4,031,828
Effect of dilutive stock options		12,701		17,408
Denominator: dilutive average number of common shares outstanding		4,050,819		4,049,236
Diluted earnings per common share	$	0.34	$	0.52