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Note 14 - Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Earnings Per Share [Text Block] | 1 4 . Earnings per common share: The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation:
|  | Year ended December 31, 201 6 |  |  | Year ended December 31, 201 5 |  |  | Year ended December 31, 201 4 |
Numerator for basic and diluted earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Net income for the year |  | $ | 16,067,154 |  |  | $ | 11,373,730 |  |  | $ | 6,374,096 |
Denominator for basic and diluted earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average number of common shares outstanding |  |  | 10,524,856 |  |  |  | 10,968,500 |  |  |  | 11,220,874 |
Effect of stock options |  |  | 188,739 |  |  |  | 391,584 |  |  |  | 509,524 |
Diluted weighted average number of shares outstanding |  |  | 10,713,595 |  |  |  | 11,360,084 |  |  |  | 11,730,398 |
Basic earnings per common share |  | $ | 1.53 |  |  | $ | 1.04 |  |  | $ | 0.57 |
Diluted earnings per common share |  | $ | 1.50 |  |  | $ | 1.00 |  |  | $ | 0.54 |
Options to purchase 76,750 common shares were outstanding during 2016 (2015: 75,050; 2014: 95,762) but were not included in the computation of diluted income per common share because the options’ exercise price was greater than the average market price of the common shares for the year.

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