NET INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Dec. 31, 2011

Earnings Per Share

Earnings Per Share [Text Block]

NOTE 2. NET INCOME (LOSS) PER COMMON SHARE

Net income (loss) per common share is computed based on the weighted-average number of common shares outstanding and, when appropriate, dilutive common stock equivalents outstanding during the period. Stock options are considered to be common stock equivalents. The computation of diluted net income (loss) per common share does not assume exercise or conversion of securities that would have an anti-dilutive effect.

Basic net income (loss) per common share is the amount of net income (loss) for the period available to each weighted-average share of common stock outstanding during the reporting period. Diluted net income (loss) per common share is the amount of net income (loss) for the period available to each weighted-average share of common stock outstanding during the reporting period and to each common stock equivalent outstanding during the period, unless inclusion of common stock equivalents would have an anti-dilutive effect.

The reconciliations between the basic and diluted weighted-average number of common shares outstanding for the three and six months ended December 31, 2011 and 2010 are as follows:

	Three Months Ended				Six Months Ended
	December 31				December 31
	2011		2010		2011		2010
Basic weighted-average number of common shares outstanding during the period		12,792,666		13,439,637		12,877,024		13,442,958
Weighted-average number of dilutive common stock options outstanding during the period		39,624		4,363		-		7,920
Diluted weighted-average number of common and common equivalent shares outstanding during the period		12,832,290		13,444,000		12,877,024		13,450,878

Outstanding options for common shares not included in the computation of diluted net income (loss) per common share, because they were anti-dilutive, for the three months ended December 31, 2011 and 2010 totaled 810,462 and 921,834, respectively, and for the six months ended December 31, 2011 and 2010 totaled 860,618 and 896,834, respectively.