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Earnings Per Share Data
 6 Months Ended
Jun. 30, 2012
Earnings Per Share Data [Abstract]  
Earnings per Share Data

Note 5 – Earnings per Share Data

The following table sets forth the computation of basic and diluted earnings per share for the quarters and nine months ended June 30, 2012 and 2011:

 

                                 
    Quarter Ended June 30,     Nine Months Ended June 30,  
    2012     2011     2012     2011  

Net Income

   $ 1,192,000     $ 1,090,000     $ 4,833,000     $ 4,646,000  
   

 

 

    

 

 

    

 

 

    

 

 

  

Common Shares:

                                

Weighted average common shares outstanding

     9,518,000       9,518,000       9,518,000       9,518,000  

Effect of dilutive stock options

     —         —         —         —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted shares outstanding

     9,518,000       9,518,000       9,518,000       9,518,000  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic:

                                

Net earnings per share

   $ 0.13     $ 0.11     $ 0.51     $ 0.49  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted:

                                

Net earnings per share

   $ 0.13     $ 0.11     $ 0.51     $ 0.49  
   

 

 

    

 

 

    

 

 

    

 

 

  

The number of potentially anti-dilutive common stock equivalents (stock options) excluded from the fully diluted calculation above was 345,500 for the quarter and nine months ended June 30, 2012 and 27,500 for the quarter and nine months ended June 30, 2011.