EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 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				Nine months ended
	September 30,				September 30,
	2013		2012		2013		2012
Numerator for basic and diluted earnings per common share:

Net income	$	810,000	$	3,567,000	$	2,306,000	$	5,069,000

Denominator:
For basic earnings per share - weighted average common shares outstanding		3,694,000		3,662,000		3,684,000		3,632,000
Dilutive securities (1)		218,000		142,000		204,000		95,000
For diluted earnings per share - weighted average common shares outstanding		3,912,000		3,804,000		3,888,000		3,727,000

(1)

Dilutive securities consist of “in the money” options.

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

At September 30, 2013 and 2012 and during the nine-month periods then ended, 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				Nine months ended
	September 30,				September 30,
	2013		2012		2013		2012
Weighted average antidilutive stock options outstanding		296,000		230,000		236,000		421,000