EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 3.EARNINGS PER SHARE

The Company follows ASC 260, Earnings Per Share (ASC 260) that requires the reporting of both basic and diluted earnings (loss) per share. Basic earnings (loss) per share is computed by dividing net income available to participating common stockholders by the weighted average number of participating common shares outstanding for the period. The calculation of diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. In accordance with ASC 260, any anti-dilutive effects on net earnings (loss) per share, of which there were none, are excluded at September 30, 2012 and September 30, 2011.

Basic and diluted earnings per share attributable to common and restricted shares of common stock for the period were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
Basic earnings per share
Common stock	$	0.22	$	0.20	$	0.60	$	0.54
Restricted shares of common stock	$	0.22	$	0.20	$	0.59	$	0.53
Total shares of common stock	$	0.22	$	0.20	$	0.60	$	0.54
Diluted earnings per share
Common stock	$	0.22	$	0.20	$	0.60	$	0.54
Restricted shares of common stock	$	0.22	$	0.20	$	0.59	$	0.53
Total shares of common stock	$	0.22	$	0.20	$	0.60	$	0.54