Note 9 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2014 and 2013.

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Net income (numerator)	$	895,000	$	474,000	$	1,164,000	$	490,000
Shares (denominator):
Basic weighted average common shares outstanding		18,321,432		19,262,807		18,594,118		19,488,040
Add: Dilutive effect of common stock options		276,034		99,813		247,900		62,204
Diluted weighted average common shares outstanding		18,597,466		19,362,620		18,842,018		19,550,244
Earnings per common share:
Basic	$	0.05	$	0.02	$	0.06	$	0.03
Diluted	$	0.05	$	0.02	$	0.06	$	0.03