EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the elements of basic and diluted earnings per common share:

	Three months ended				Six months ended
	June 30,				June 30,
	2013			2012	2013		2012
Numerator for basic and diluted earnings per common share:

Net income	$	875,000	$	796,000	$	1,496,000	$	1,502,000

Denominator:
For basic earnings per share - weighted average common shares outstanding		3,683,000		3,617,000		3,678,000		3,616,000
Dilutive securities (1)		206,000		80,000		197,000		71,000
For diluted earnings per share - weighted average common shares outstanding		3,889,000		3,697,000		3,875,000		3,687,000

(1)

Dilutive securities consist of “in the money” options.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

At June 30, 2013 and 2012 and during the six-month periods ended June 30, 2013 and 2012, there were outstanding stock options whose exercise prices were higher than the average market values of the underlying Class A Common Stock for the period. These options are antidilutive and are excluded from the computation of earnings per share. The weighted average antidilutive stock options outstanding were as follows:

	Three months ended				Six months ended
	June 30,				June 30,
	2013		2012		2013		2012
Weighted average antidilutive stock options outstanding		185,000		451,000		207,000		517,000