Net Income per Common Share

6 Months Ended

Jun. 30, 2011

Net Income per Common Share [Abstract]

Net Income per Common Share

Note 3. Net Income per Common 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 equivalents outstanding during the period. Dilutive common equivalent shares consist of stock options and warrants, calculated using the treasury stock method.

	Six Months				Three Months
	Ended June 30,				Ended June 30,
	2011		2010		2011		2010
Weighted average shares outstanding		1,820,548		1,820,548		1,820,548		1,820,548
Common stock equivalents		—		—		—		—
Average common shares and equivalents		1,820,548		1,820,548		1,822,548		1,822,548
Net income	$	901	$	916	$	453	$	388
Basic earnings per share	$	0.49	$	0.50	$	0.25	$	0.21
Diluted earnings per share	$	0.49	$	0.50	$	0.25	$	0.21

During 2010, all of the outstanding warrants and options were excluded from the calculation of diluted income per share because they were anti-dilutive. All the warrants and options expired in 2010.