XML 37 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 5 - Earnings Per Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Text Block]
5.         EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three and nine months ended September 30, 2012 and 2011:

   
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
   
2012
   
2011
   
2012
   
2011
 
Numerator:
                       
Net income
  $ 280,770     $ 829,106     $ 3,394,514     $ 3,056,038  
Numerator for basic and diluted earnings per share
    280,770       829,106       3,394,514       3,056,038  
Denominator:
                               
Weighted-average shares outstanding-basic
    10,156,790       10,156,442       10,156,559       10,156,442  
                                 
Effect of dilutive securities:
                               
Stock options
    20,676       11,884       23,010       23,081  
Dilutive potential common shares
    20,676       11,884       23,010       23,081  
Denominator for diluted earnings per share-weighted-average shares
    10,177,466       10,168,326       10,179,569       10,179,523  
                                 
Basic earnings per share
  $ 0.03     $ 0.08     $ 0.33     $ 0.30  
Diluted earnings per share
  $ 0.03     $ 0.08     $ 0.33     $ 0.30  

The net effect of converting stock options to purchase 127,600 and 102,600 shares of common stock at exercise prices less than the average market prices has been included in the computations of diluted earnings per share for the quarter ended September 30, 2012 and 2011, respectively.