Note 14 - Earnings Per Share

3 Months Ended

Mar. 31, 2016

14.	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. The following table reflects the calculation of weighted average shares outstanding for the basic and diluted earnings per share calculations:

	Three Months Ended March 31,
	2016		2015
Basic weighted average shares outstanding		37,740,714		33,371,946
Effect of dilutive securities		174,789		179,830
Diluted weighted average shares outstanding		37,915,503		33,551,776