Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 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				Nine months ended
	September 30,				September 30,
	2017		2016		2017		2016
Net income	$	7,853,935	$	6,107,501	$	25,804,917	$	19,157,457
Basic EPS	$	0.60	$	0.47	$	1.96	$	1.55
Diluted EPS	$	0.58	$	0.46	$	1.91	$	1.52
Weighted average common shares outstanding*		13,151,350		13,066,777		13,151,672		12,398,491
Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan		356,605		202,926		357,894		181,551
Weighted average common and common equivalent shares outstanding		13,507,955		13,269,703		13,509,566		12,580,042

The increase in weighted average common shares outstanding

when comparing the

nine

months ended

September 30, 2017

to

September 30, 2016

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.