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Note H - Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

NOTE H: EARNINGS (LOSS) PER SHARE


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


   

Three Months Ended

 
   

March 31,

 
   

2014

   

2013

 
   

(in thousands, except per share data)

 
                 

Net income (loss)

  $ 1,357     $ (456 )
                 

Basic weighted average common shares outstanding

    7,985       8,688  

Dilutive effect of common stock equivalents

    48       -  

Diluted weighted average common shares outstanding

    8,033       8,688  
                 

Basic earnings (loss) per share

  $ 0.17     $ (0.05 )

Diluted earnings (loss) per share

  $ 0.17     $ (0.05 )

There were no options outstanding to purchase shares of common stock at March 31, 2014 that had an anti-dilutive effect on the computation of diluted earnings per share. Options to purchase 251,129 shares of common stock were outstanding at March 31, 2013 but were not included in the computation of diluted earnings per share because to do so would have an anti-dilutive effect.