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Note H - Earnings Per Share
 3 Months Ended
Mar. 31, 2015
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

 
   

March 31,

 
   

2015

   

2014

 
   

(in thousands, except per share data)

 
                 

Net income

  $ 5,369     $ 1,357  
                 

Basic weighted average common shares outstanding

    7,425       7,985  

Dilutive effect of common stock equivalents

    42       48  

Diluted weighted average common shares outstanding

    7,467       8,033  
                 

Basic earnings per share

  $ 0.72     $ 0.17  

Diluted earnings per share

  $ 0.72     $ 0.17  

As of March 31, 2015 and March 31, 2014, there were no options outstanding to purchase shares of common stock that had an anti-dilutive effect on the computation of diluted earnings per share.