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Per Share Data:
 3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Per Share Data:

 

4. Per Share Data:   

  Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average outstanding common shares during the period. Diluted earnings per share is calculated by dividing net income by the number of shares outstanding under the basic calculation and adding all dilutive securities, which consist of options. There were no dilutive options for the three months ended March 31, 2012. Accordingly, basic and diluted income per share are the same for the period. The Company incurred a net loss for the three months ended March 31, 2011. Accordingly, basic and diluted net loss per common share are the same for such period as the effect of stock options is anti-dilutive. Shares underlying stock options not included in the diluted computation amounted to 1,228,200 in 2012 and 2011.