Note 9 - Earnings per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 9 — Earnings per Share

The computation of basic and diluted net income per common share for the three and nine-month periods ended September 30, 2017 and 2016 is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(In thousands, except share and per share data)
Net income (loss)	$	705	$	2,213	$	(2,202)	$	10,190
Weighted average shares outstanding		10,429,091		10,296,891		10,366,373		10,282,841
Effect of stock options*		-		70,769		-		68,574
Weighted average shares outstanding - assuming dilution		10,429,091		10,367,660		10,366,373		10,351,415
Net income (loss) per common share:
Basic	$	0.07	$	0.21	$	(0.21)	$	0.99
Diluted	$	0.07	$	0.21	$	(0.21)	$	0.98
Stock options not considered above because they were anti-dilutive*		939,425		511,250		939,425		516,250

*For the three months and nine months ended September 30, 2017, potentially dilutive shares from options were excluded from the diluted earnings per share calculations due to the antidilutive effect such shares would have on net loss per common share.