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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 2 - EARNINGS PER SHARE

 

Basic earnings per share of common stock are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share are calculated by including the average dilutive common stock equivalents outstanding during the periods. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method.

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2015     2014     2015     2014  
Basic and diluted:                                
Net  income   $ 8,000     $ 526,000     $ 906,000     $ 1,434,000  
Weighted average common shares outstanding     2,770,897       2,757,213       2,770,644       2,757,011  
Basic and dilutive net income per share   $ 0.00     $ 0.19     $ 0.33     $ 0.52  

 

Diluted earnings per share calculations were not required for the three and nine months ended September 30, 2015 and 2014, since there were no options outstanding.