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Note P - Net Income Per Share of Common Stock
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Text Block]

Note P – Net Income Per Share of Common Stock


Basic net income per share is based on the weighted average number of shares of common stock outstanding during the period, which does not include unvested restricted stock subject to forfeiture. Diluted net income per share reflects: a) the potential dilution assuming shares of common stock were issued upon the exercise of outstanding in-the-money options and the proceeds thereof were used to purchase shares of the Company’s common stock at the average market price during the period, and b) the vesting of granted nonvested restricted stock awards for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost not yet recognized attributable to future services using the treasury stock method, to the extent dilutive. For the three months ended March 31, 2012 and 2011, options exercisable into approximately 54,000 and 174,000 shares of common stock, respectively, have been excluded in the calculation of diluted income per share as the result would have been antidilutive. For the quarters ended March 31, 2012 and 2011, the unvested restricted stock awards were dilutive.