Note 10 - Earnings Per Share

12 Months Ended

Dec. 31, 2011

Notes To Financial Statements

Earnings Per Share [Text Block]

Note 10 – Earnings per Share

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

	Years Ended December 31,
	2011			2010
BASIC
Weighted average common shares used to compute basic earnings  per share		9,957,474			9,968,120
Net loss - continuing operations	$	(2,167,000	)	$	(2,572,000	)
Basic net loss per share - continuing operations	$	(0.22	)	$	(0.26	)
Net income discontinued operations	$	1,362,000		$	1,776,000
Basic net earnings per share - discontinued operations	$	0.14		$	0.18
Total net income (loss)	$	(805,000	)	$	(796,000	)
Total basic net earnings (loss) per share	$	(0.08	)	$	(0.08	)
DILUTED
Weighted average common shares used to compute basic earnings  per share		9,957,474			9,968,120
Dilutive common  equivalent shares attributable to stock options (based on average market price)		239,000			171,000
Weighted average common shares and equivalents used to compute diluted earnings per share		10,196,474			10,139,120
Net income - discontinued operations	$	1,362,000		$	1,776,000
Diluted net earnings per share -discontinued operations	$	0.13		$	0.18
Total net income (loss)	$	(805,000	)	$	(796,000	)
Total diluted net earnings (loss) per share	$	(0.08	)	$	(0.08	)

Options outstanding representing 1,070,000 and 1,154,000 shares of common stock for the years ended December 31, 2011 and 2010 have been excluded from the above calculation because their effect would have been anti-dilutive.