Note 6- Earnings per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Text Block]

Note 6—Earnings per Share

The following table provides the calculation methodology for the numerator and denominator for basic and diluted earnings per share:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Net (loss) income from continuing operations	$	(432,000	)	$	(620,000	)	$	(927,000	)	$	(1,575,000	)
Weighted average shares outstanding		9,712,948			10,049,148			9,712,948			10,049,339
Net effect of dilutive options		-			185,000			-			183,000
Weighted average diluted shares outstanding		9,712,948			10,234,148			9,712,948			10,232,339
(Loss) income per share from continuing operations - diluted	$	(0.04	)	$	(0.06	)	$	(0.10	)	$	(0.15	)
Net income (loss) from discontinued operations	$	180,000		$	843,000		$	285,000		$	1,595,000
Income (loss) per share from discontinued operations - diluted	$	0.02		$	0.08		$	0.03		$	0.16
Net loss	$	(252,000	)	$	223,000		$	(642,000	)	$	20,000
Loss per share - diluted	$	(0.03	)	$	0.02		$	(0.07	)	$	-

Options outstanding for 1,830,000 shares of common stock for the three and six months ended June 30, 2011 have been excluded from the above calculation because their effect would have been anti-dilutive.

Options outstanding for 970,000 shares of common stock for the three and six months ended June 30, 2010 have been excluded from the above calculation because their effect would have been anti-dilutive.