Note 4 - Earnings Per Share

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

4

- EARNINGS PER SHARE

The following information was used in the computation of

EPS on a basic and diluted basis:

	Three months ended
	March 31,
	2017		2016
Net income	$	9,184,965	$	6,373,489
Basic EPS	$	0.70	$	0.54
Diluted EPS	$	0.68	$	0.53
Weighted average common shares outstanding		13,133,382		11,793,620
Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan		355,035		160,329
Weighted average common and common equivalent shares outstanding		13,488,417		11,953,949

The increase in weighted average common shares outstanding from

March

31,

2016

to

March

31,

2017

was primarily due to the common stock issuance discussed in Note

2

of the Company’s Annual Report on Form

10

-K for the year ended

December

31,

2016.