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Note 8 - Earnings per share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Text Block]
8)           Earnings per share

The computation of basic and diluted earnings per common share was as follows:

   
For the three months ended March 31,
 
   
2012
   
2011
 
Net income available to common stockholders
  $ 7,113     $ 2,716  
                 
Weighted average number of common shares outstanding
    41,314,859       39,982,905  
Effect of stock options
    178,276       148,181  
Weighted average diluted number of common shares outstanding
    41,493,135       40,131,086  
                 
Basic earnings per share
  $ 0.17     $ 0.07  
Diluted earnings per share
  $ 0.17     $ 0.07  

Certain options to purchase shares of FutureFuel’s common stock were not included in the computation of diluted earnings per share for the three months ended March 31, 2012 as they were anti-dilutive. The weighted average number of options excluded on this basis was 120,000. No options to purchase shares of FutureFuel’s common stock were excluded for the computation of diluted earnings per share for the three months ended March 31, 2011 as all options were dilutive.