Note 9 - Basic and Diluted Earnings Per Common Share

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

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 dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three months ended March 31, 2015 and 2014.

	For the Three Months Ended
	March 31,
	2015		2014
Net income (numerator)	$	148,000	$	269,000
Shares (denominator):
Basic weighted average common shares outstanding		18,299,933		18,859,834
Add: dilutive effect of common stock options		199,639		303,216
Diluted weighted average common shares outstanding		18,499,572		19,163,050
Earnings per common share:
Basic	$	0.01	$	0.01
Diluted	$	0.01	$	0.01