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Note H - Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

NOTE H: EARNINGS PER SHARE


Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive stock options. The computation of diluted earnings per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on earnings per share. The computations of basic and diluted earnings per share were as follows:


   

Three Months Ended

June 30,

   

Six Months Ended

June 30,

 
   

2013

   

2012

   

2013

   

2012

 
   

(in thousands, except per share data)

 
                                 

Net income

  $ 2,682     $ 935     $ 2,226     $ 1,609  
                                 

Basic weighted average common shares outstanding

    8,658       8,702       8,673       8,699  

Dilutive effect of common stock equivalents

    1       1       2       2  

Diluted weighted average common shares outstanding

    8,659       8,703       8,675       8,701  
                                 

Basic earnings per share

  $ 0.31     $ 0.11     $ 0.26     $ 0.18  

Diluted earnings per share

  $ 0.31     $ 0.11     $ 0.26     $ 0.18  

Options to purchase 247,003 and 297,942 shares of common stock were outstanding at June 30, 2013 and 2012, respectively, but were not included in the computation of diluted earnings per share because to do so would have an anti-dilutive effect.