INCOME PER COMMON SHARE

6 Months Ended

Jun. 30, 2014

INCOME PER COMMON SHARE [Abstract]

INCOME PER COMMON SHARE

5. INCOME PER COMMON SHARE

Basic income (loss) per common share is computed using the weighted average number of common shares outstanding.  Diluted income (loss) per common share for the three and six month periods ended June 30, 2014 and 2013 is computed using the weighted-average number of common shares outstanding adjusted for the incremental shares attributed to outstanding options to purchase common stock  incremental shares were used in the calculation of diluted income per common share in both the three and six month period ended June 30, 2014, as the effect of incremental shares would be anti-dilutive.  Incremental shares of 64,202 were used in the calculation of diluted income per common share in both the three and six months ended June 30, 2013. Incremental shares of 239,734 were not included in the diluted earnings per share calculations for both the three and six month period ended June 30, 2013 as their exercise price was in excess of the Company’s average stock price for the respective period and, accordingly, these shares are not assumed to be exercise for the diluted earnings per share calculation, as they would be anti-dilutive.