Net Income Per Share

3 Months Ended

Sep. 30, 2011

Net Income Per Share [Abstract]

Net Income Per Share

NOTE 4. NET INCOME PER SHARE

The difference in the weighted average shares outstanding used in the calculation of basic and diluted earnings per share for the three months ended September 30, 2011 and 2010 is as follows:

	2011		2010
Net income	$	446,000	$	342,000
Basic:
Weighted average common shares outstanding		3,272,350		3,251,850
Shares used in the computation of basic net income per share		3,272,350		3,251,850
Net income per share — basic	$	0.14	$	0.11
Diluted:
Shares used in the computation of basic net income per share		3,272,350		3,251,850
Net shares assumed issued using the treasury stock method for outstanding common stock options		7,695		11,516
Shares used in the computation of diluted net income per share		3,280,045		3,263,366
Net income per share — diluted	$	0.14	$	0.10

Options having exercise prices that are greater than the per share market price for our common stock have been excluded from the diluted per share calculation due to their anti-dilutive effect. Shares represented by such options amounted to 277,508 and 143,509 for the three months ended September 30, 2011 and 2010, respectively