Note H - Earnings Per Share

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

H

: EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive stock options. The computation of diluted earnings per share does

not

assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on earnings per share. The computations of basic and diluted earnings per share were as follows:

	Three Months Ended March 31,
	2018		2017
	(in thousands, except per share data)
Net income	$	1,387	$	2,283
Basic weighted average common shares outstanding		6,168		6,399
Dilutive effect of common stock equivalents		96		26
Diluted weighted average common shares outstanding		6,264		6,425
Basic earnings per share	$	0.22	$	0.36
Diluted earnings per share	$	0.22	$	0.36

As of

March 31, 2018

and

March 31, 2017,

there were

no

options outstanding to purchase shares of common stock that had an anti-dilutive effect on the computation of diluted earnings per share.