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

9 Months Ended

Aug. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

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

Basic net income (loss) per common share has been computed on the basis of the weighted average number of common shares outstanding. Diluted net income (loss) 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. Potential shares of common stock that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Basic and diluted earnings (loss) per common share have been computed based on the following as of August 31, 2014 and August 31, 2013:

	For the three months ended
	August 31, 2014		August 31, 2013
Basic:
Numerator: net income	$	558,208	$	26,394
Denominator: average number of common shares outstanding		4,048,552		4,041,682
Basic earnings per common share	$	0.14	$	0.01
Diluted:
Numerator: net income	$	558,208	$	26,394
Average number of common shares outstanding		4,048,552		4,041,682
Effect of dilutive stock options		4,577		16,091
Denominator: dilutive average number of common shares outstanding		4,053,129		4,057,773
Diluted earnings per common share	$	0.14	$	0.01

	For the nine months Ended
	August 31, 2014		August 31, 2013
Basic:
Numerator: net income (loss)	$	553,051	$	1,359,894
Denominator: average number of common shares outstanding		4,047,544		4,038,118
Basic earnings (loss) per common share	$	0.14	$	0.34
Diluted:
Numerator: net income (loss)	$	553,051	$	1,359,894
Average number of common shares outstanding		4,047,544		4,038,118
Effect of dilutive stock options		5,608		12,701
Denominator: dilutive average number of common shares outstanding		4,053,152		4,050,819
Diluted earnings (loss) per common share	$	0.14	$	0.34