Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

13

– Earnings Per Share:

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

	2016		2015		2014
Net earnings used in the computation of basic and diluted earnings per share	$	14,638,000	$	13,066,000	$	11,349,000
Weighted average shares outstanding - basic		14,082,243		13,761,009		13,298,452
Common stock equivalents		815,246		817,635		566,246
Total weighted average shares outstanding - diluted		14,897,489		14,578,644		13,864,698
Per Share Data:
Basic
Net earnings	$	1.04	$	0.95	$	0.85
Diluted
Net earnings	$	0.98	$	0.90	$	0.82

Awards to purchase an average of

124,000

shares of common stock with a weighted average exercise price of

$18.53

per share were outstanding during

2016

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

108,400

shares of common stock with a weighted average exercise price of

$17.98

per share were outstanding during

2015

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

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.