Note 9 - Basic and Diluted Earnings Per Common Share

3 Months Ended

Mar. 31, 2014

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 months ended March 31, 2014 and 2013.

	For the Three Months Ended
	March 31,
	2014		2013
Net income (numerator)	$	269,000	$	15,000
Shares (denominator):
Basic weighted average common shares outstanding		18,859,834		19,715,775
Add: Dilutive effect of common stock options		303,216		33,382
Diluted weighted average common shares outstanding		19,163,050		19,749,157
Earnings per common share:
Basic	$	0.01	$	0.00
Diluted	$	0.01	$	0.00