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Earnings Per Share
6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share

(12) Earnings Per Share:

Basic earnings per share are computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect per share amounts that would have resulted if dilutive potential common stock had been converted to common stock in gain periods. The following reconciles amounts reported in the financial statements:

 

     Six Months Ended June 30, 2011      Six Months Ended June 30, 2010  
     Net
Income
     Weighted
Average
Number of
Shares
Outstanding
     Per Share
Amount
     Net Income      Weighted
Average
Number of
Shares
Outstanding
     Per Share
Amount
 

Basic

   $ 821,000         2,767,124       $ 0.30       $ 9,675,000         2,996,491       $ 3.23   

Effect of dilutive securities:

                 

Options

        734,671               735,395      
  

 

 

    

 

 

       

 

 

    

 

 

    

Diluted

   $ 821,000         3,501,795       $ 0.23       $ 9,675,000         3,731,886       $ 2.59   
  

 

 

    

 

 

       

 

 

    

 

 

    
     Three Months Ended June 30, 2011      Three Months Ended June 30, 2010  
     Net
Income
     Weighted
Average
Number of
Shares
Outstanding
     Per Share
Amount
     Net Income      Weighted
Average
Number of
Shares
Outstanding
     Per Share
Amount
 

Basic

   $ 3,203,000         2,755,035       $ 1.16       $ 6,235,000         2,964,696       $ 2.09   

Effect of dilutive securities:

                 

Options

        736,739               729,694      
  

 

 

    

 

 

       

 

 

    

 

 

    

Diluted

   $ 3,203,000         3,491,774       $ 0.92       $ 6,235,000         3,694,390       $ 1.68