EARNINGS PER SHARE:

9 Months Ended

Nov. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

4.  EARNINGS PER SHARE:

The shares used in the computation of the Company’s basic and diluted earnings per common share were as follows:

	For the three months ended November 30,				For the nine months ended November 30,
	2011		2010		2011		2010
Weighted average common shares outstanding		2,267,775		2,263,775		2,267,489		2,263,775
Dilutive effect of employee stock options		221,679		202,535		221,673		205,355
Weighted average common shares outstanding, assuming dilution		2,489,454		2,466,310		2,489,162		2,469,130

Weighted average common shares outstanding, assuming dilution, include the incremental shares that would be issued upon the assumed exercise of stock options.  For the three and nine month periods ended November 30, 2011 and November 30, 2010, 13,500 shares (at $3.95) underlying  the Company's stock options were excluded from the calculation of diluted earning per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares, and therefore their inclusion would have been anti-dilutive.