Note 4 - Net Income Per Common Share

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

4. Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the potential dilution that would occur should all of the shares of Class A common stock underlying restricted stock units (“RSUs”), as well as all of the shares of Class A common stock, for which the Company has accrued an expense, that may be delivered pursuant to the purchase agreement relating to the assets of Reliable Networks of Maine, LLC (“Reliable Networks”), be issued.

A reconciliation of the Company’s basic and diluted net income per common share calculation is as follows (weighted average number of common shares outstanding in whole numbers and net income in thousands):

	Three Months Ended June 30,				Six Months Ended June 30 ,
	2014		2015		2014		201 5
Weighted average number of common shares outstanding - basic		3,103,728		3,239,306		3,103,728		3,239,306
Effect of dilutive securities		—		46,228		—		44,026
Weighted average number of common shares and potential common shares - diluted		3,103,728		3,285,534		3,103,728		3,283,332
Net income	$	1,308	$	1,655	$	2,702	$	3,790
Net income per common share - basic	$	0.42	$	0.51	$	0.87	$	1.17
Net income per common share - diluted	$	—	$	0.50	$	—	$	1.15