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Note H - Earnings Per Share

6 Months Ended

Jun. 30, 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								Six Months Ended
		June 30,								June 30,
		2015				2014				2015				2014
		(in thousands, except per share data)

Net income		$	7,039			$	4,945			$	12,408			$	6,302

Basic weighted average common shares outstanding			7,431				7,992				7,428				7,989
Dilutive effect of common stock equivalents			43				43				43				44
Diluted weighted average common shares outstanding			7,474				8,035				7,471				8,033

Basic earnings per share		$	0.95			$	0.62			$	1.67			$	0.79
Diluted earnings per share		$	0.94			$	0.62			$	1.66			$	0.78

As of June 30, 2015 and June 30, 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.