Note 9 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2017

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

and

six

months ended

June 30, 2017

and

2016.

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Net income (numerator)	$	804,000	$	797,000	$	1,354,000	$	1,304,000
Shares (denominator):
Basic weighted average common shares outstanding		14,953,217		17,211,268		15,079,733		17,440,299
Add: dilutive effect of common stock options		52,872		-		71,299		-
Diluted weighted average common shares outstanding		15,006,089		17,211,268		15,151,032		17,440,299
Earnings per common share:
Basic	$	0.05	$	0.05	$	0.09	$	0.07
Diluted	$	0.05	$	0.05	$	0.09	$	0.07