Note 9 - Earnings Per Share

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

9

–

Earnings

per Share

The calculation of basic and diluted weighted average common shares outstanding is as follows:

	2015		2014
Weighted average common shares outstanding basic earnings per share		6,175,254		6,129,831
Effect of potential common share issuance:
Stock options		108,053		---
Weighted average common shares outstanding
Diluted earnings per share		6,283,307		6,129,831

Stock options to purchase 259,730 shares of common stock were outstanding and 159,730 were exercisable at December 31, 2015. At December 31, 2015 all outstanding options were included in the diluted earnings per share calculation because the average market price was higher than the exercise price. At December 31, 2014 none of the outstanding options were included in the diluted earnings per share calculation as their effect would have been anti-dilutive.