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Note H - Earnings Per Share
 3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
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,
  
   
2017
    
2016
  
   
(in thousands, except per share data)
  
                 
Net income
   $
2,283
     $
2,935
  
                 
Basic weighted average common shares outstanding
    
6,399
      
7,121
  
Dilutive effect of common stock equivalents
    
26
      
24
  
Diluted weighted average common shares outstanding
    
6,425
      
7,145
  
                 
Basic earnings per share
   $
0.36
     $
0.41
  
Diluted earnings per share
   $
0.36
     $
0.41
  
 
As of
March
31,
2017
and
March
31,
2016,
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.