Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 13 – Earnings Per Share:

The following table represents a reconciliation of basic and diluted earnings per share:

	2014		2013
Net earnings used in the computation of basic and diluted earnings per share	$	11,349,000	$	5,850,000
Weighted average shares outstanding - basic		13,298,452		12,523,176
Common stock equivalents		566,246		164,032
Total weighted average shares outstanding - diluted		13,864,698		12,687,208
Per Share Data:
Basic
Net earnings	$	0.85	$	0.47
Diluted
Net earnings	$	0.82	$	0.46

Awards to purchase an average of 34,400  shares of common stock with a weighted average exercise price of $10.03 per share were outstanding during 2014 but were not included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares.  Awards to purchase an average of 451,112 shares of common stock with a weighted average exercise price of $6.40 per share were outstanding during 2013 but were not included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares.