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Note H - Earnings Per Share
 9 Months Ended
Sep. 30, 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
    
Nine
Months Ended
  
   
September
30,
    
September
30,
  
   
201
7
    
201
6
    
201
7
    
201
6
  
   
(in thousands, except per share data)
  
Net income
   $
3,446
     $
3,451
     $
7,338
     $
10,378
  
                                 
Basic weighted average common shares outstanding
    
6,326
      
6,439
      
6,368
      
6,703
  
Dilutive effect of common stock equivalents
    
47
      
19
      
45
      
22
  
Diluted weighted average common shares outstanding
    
6,373
      
6,458
      
6,413
      
6,725
  
                                 
Basic earnings per share
   $
0.54
     $
0.54
     $
1.15
     $
1.55
  
Diluted earnings per share
   $
0.54
     $
0.53
     $
1.14
     $
1.54
  
 
As of
September 30, 2017
and
September 30, 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.