Note 9 - Basic and Diluted Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Text Block]

9.             Basic and Diluted Earnings Per Common Share

The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to potential shares, and “diluted” EPS, which includes all such dilutive shares, for the three months ended March 31, 2013 and 2012.

	For the Three Months Ended March 31,
	2013		2012
Net income (numerator)	$	15,000	$	70,000
Shares (denominator):
Basic weighted average common shares outstanding		19,715,775		20,988,087
Add: Dilutive effect of common stock options		33,382		-
Diluted weighted average common shares outstanding		19,749,157		20,988,087
Earnings per common share:
Basic	$	0.00	$	0.00
Diluted	$	0.00	$	0.00