Note 3 - Net Income Per Common Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 3 – Net Income Per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per common share is computed using the treasury stock method to compute the weighted average common stock outstanding assuming the conversion of potential dilutive common shares.

The following table presents a reconciliation of the denominators used in the computation of net income per common share – basic, and net income per common share – diluted, for the three and nine-month periods ended September 30, 2014 and 2013:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Weighted shares of common stock outstanding – basic		5,667,810		5,548,201		5,654,620		5,535,687
Dilutive impact of share-based awards		107,957		136,314		113,364		138,007
Weighted shares of common stock outstanding – diluted		5,775,767		5,684,515		5,767,984		5,673,694

Outstanding stock options totaling 251,000 for the three-month period ended September 30, 2014 and 255,650 for the three and nine-month periods ended September 30, 2013 were excluded from the net income per common share calculation because the shares would be anti-dilutive. There were no anti-dilutive options outstanding during the nine-months ended September 30, 2014.