Note 9 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

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 and six months ended June 30, 2013 and 2012.

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Net income (numerator)	$	474,000	$	374,000	$	490,000	$	444,000
Shares (denominator):
Basic weighted average common shares outstanding		19,262,807		20,857,189		19,488,040		20,922,638
Add: Dilutive effect of common stock options		99,813		-		62,204		-
Diluted weighted average common shares outstanding		19,362,620		20,857,189		19,550,244		20,922,638
Earnings per common share:
Basic	$	0.02	$	0.02	$	0.03	$	0.02
Diluted	$	0.02	$	0.02	$	0.03	$	0.02