Note 9 - Basic and Diluted Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

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, 2016 and 2015.

	For the Three Months Ended
	March 31,
	2016		2015
Net income (numerator)	$	507,000	$	148,000
Shares (denominator):
Basic weighted average common shares outstanding		17,669,331		18,299,933
Add: dilutive effect of common stock options		-		199,639
Diluted weighted average common shares outstanding		17,669,331		18,499,572
Earnings per common share:
Basic	$	0.03	$	0.01
Diluted	$	0.03	$	0.01