Note 7 - Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Text Block]

7.        EARNINGS PER SHARE

Basic earnings per share is computed by dividing reported earnings available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing reported earnings available to common stockholders by the weighted average number of common shares outstanding after consideration of the dilutive effect, if any, of the Company’s outstanding common stock options and warrants using the treasury stock method.

	Three Months Ended March 31,
	2013		2012
Basic weighted average shares outstanding		19,421,603		19,302,603
Effect of dilutive securities		1,322,978		997,401
Diluted weighted average shares outstanding		20,744,581		20,300,004

The calculation of diluted earnings per share for the three months ended March 31, 2013 and 2012 excluded antidilutive stock options totaling 42,500 and 151,500, respectively