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Note 4 - Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Text Block]
4.       EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three months ended March 31, 2013 and 2012:

   
2013
   
2012
 
Net income
  $ 1,586,321     $ 1,574,105  
Numerator for basic and diluted earnings per share
  $ 1,586,321     $ 1,574,105  
                 
Denominator for basic earnings per share – weighted-average shares
    10,162,442       10,156,442  
                 
Effect of dilutive securities:
               
Stock options
    31,777       16,508  
Warrants
    -       -  
Dilutive potential common shares
    31,777       16,508  
                 
Denominator for diluted earnings per share – weighted-average shares
    10,194,219       10,172,950  
                 
Basic earnings per share
  $ 0.16     $ 0.15  
Diluted earnings per share
  $ 0.16     $ 0.15  

The net effect of converting stock options and warrants to purchase 121,600 and 115,600 shares of common stock at exercise prices less than the average market prices has been included in the computations of diluted EPS for the quarters ended March 31, 2013 and 2012, respectively.