Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

8.      EARNINGS PER SHARE

Net income per share of class A common stock and class B common stock is computed using the two-class method. Basic net income per share is computed by allocating undistributed earnings to common shares and using the weighted-average number of common shares outstanding during the period.

Diluted net income per share is computed using the weighted-average number of common shares and, if dilutive, the potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method.

The liquidation rights and the rights upon the consummation of an extraordinary transaction are the same for the holders of class A common stock and class B common stock. Other than share distributions and liquidation rights, the amount of any dividend or other distribution payable on each share of class A common stock will be equal to one-sixth (1/6th) of the amount of any such dividend or other distribution payable on each share of class B common stock. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the class A and class B common stock as if the earnings for the year had been distributed.

	For the Three Months Ended June 30, 2013				For the Three Months Ended June 30, 2012
	Class A Common Stock		Class B Common Stock		Class A Common Stock		Class B Common Stock
	(In thousands, except per share data)
Numerator for net income per share - basic:
Allocation of distributed earnings	$	--	$	--	$	882	$	882
Allocation of undistributed earnings		1,717		1,717		1,088		1,088
Net income attributable to common shareholders	$	1,717	$	1,717	$	1,970	$	1,970
Denominator for net income per share - basic:
Weighted average common shares outstanding - basic		20,672		3,445		20,254		3,376
Net income per share - basic	$	0.08	$	0.50	$	0.10	$	0.58
Numerator for net income per share - diluted:
Net income attributable to common shareholders for basic computation	$	1,717	$	1,717	$	1,970	$	1,970
Denominator for net income per share - diluted:
Weighted average common shares outstanding - basic		20,672		3,445		20,254		3,376
Weighted average effect of dilutive securities:
Stock Options		379		65		526		87
Restricted Stock		34		6		49		8
Weighted average common shares outstanding - diluted		21,085		3,516		20,829		3,471
Net income per share - diluted	$	0.08	$	0.49	$	0.09	$	0.57

	For the Six Months Ended June 30, 2013				For the Six Months Ended June 30, 2012
	Class A Common Stock		Class B Common Stock		Class A Common Stock		Class B Common Stock
	(In thousands, except per share data)
Numerator for net income per share - basic:
Allocation of distributed earnings	$	1,071	$	1,071	$	1,762	$	1,762
Allocation of undistributed earnings		2,881		2,881		2,132		2,132
Net income attributable to common shareholders	$	3,952	$	3,952	$	3,894	$	3,894
Denominator for net income per share - basic:
Weighted average common shares outstanding - basic		20,671		3,445		20,206		3,368
Net income per share - basic	$	0.19	$	1.15	$	0.19	$	1.16
Numerator for net income per share - diluted:
Net income attributable to common shareholders for basic computation	$	3,952	$	3,952	$	3,894	$	3,894
Denominator for net income per share - diluted:
Weighted average common shares outstanding - basic		20,671		3,445		20,206		3,368
Weighted average effect of dilutive securities:
Stock Options		369		62		537		89
Restricted Stock		34		6		49		8
Weighted average common shares outstanding - diluted		21,074		3,513		20,792		3,465
Net income per share - diluted	$	0.19	$	1.12	$	0.19	$	1.12

The Company excluded 172,212 and 230,703 shares of class A common stock options and 12,106 and 38,451 shares of class B common stock options for the three-month periods ended June 30, 2013 and 2012, respectively, from the diluted net income per share computation because the exercise or grant price exceeded the fair market value of the common stock on such date. The Company excluded 127,581 and 283,155 shares of class A common stock options and 12,920 and 47,193 of the class B common stock options for the six-month periods ended June 30, 2013 and 2012, respectively from the diluted net income per share computation because the exercise or grant price exceeded the fair market value of the common stock on such date. No restricted stock awards were excluded from the calculation during the three-month periods or six-month periods ended June 30, 2013 and 2012.