Note 3 - Earnings per Share

6 Months Ended

May 31, 2012

Earnings Per Share [Text Block]

3. Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

	For the 3 months ended May 31,				For the 6 months ended May 31,
	2012		2011		2012		2011
Numerator:
Net income available to common shareholders	$	267,094	$	144,057	$	276,915	$	178,912
Denominator:
Weighted average outstanding shares
Basic		7,263,508		7,263,508		7,263,508		7,263,508
Earnings per Share - Basic	$	0.04	$	0.02	$	0.04	$	0.02
Effect of dilutive common stock		2,002		1,437		2,199		732
Weighted average outstanding shares
Diluted		7,265,510		7,264,945		7,265,707		7,264,240
Earnings per share - Diluted	$	0.04	$	0.02	$	0.04	$	0.02

The Company excluded 350,400 and 360,400 potential shares attributable to outstanding stock options from the calculation of diluted earnings per share for the three and six months ended May 31, 2012 and 2011, respectively, because their inclusion would have been anti-dilutive.