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Note 3 - Earnings per share (Notes)
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings per Share ("EPS")
Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding.  The computation of diluted earnings (loss) per share is similar to the computation of basic earnings (loss) per share except that the denominator is increased to include the average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued.  In addition, the numerator is adjusted for any changes in net income (loss) that would result from the assumed conversions of those potential shares.
The following table presents the calculation of both basic and diluted EPS.
 
Three months ended June 30,
Six months ended June 30,
 
2014
2013
2014
2013
Income (loss) from continuing operations
$
239,814

$
(2,877,383
)
$
498,955

$
(2,875,315
)
Income (loss) from discontinued operations, net of tax
646

(12,808
)
(1,779
)
(20,546
)
Net income (loss) available to common shareholders
$
240,460

$
(2,890,191
)
$
497,176

$
(2,895,861
)
 
 
 
 
 
Basic EPS:
 
 
 
 
Weighted average common shares outstanding
2,723,582

2,704,239

2,722,914

2,704,239

 
 
 
 
 
Income (loss) per share - basic
 
 
 
 
Continuing operations
$
0.09

$
(1.06
)
$
0.18

$
(1.06
)
Discontinued operations
$
—

$
—

$
—

$
(0.01
)
Consolidated basic EPS
$
0.09

$
(1.06
)
$
0.18

$
(1.07
)
 
 
 
 
 
Diluted EPS:
 
 
 
 
Weighted average common shares outstanding
2,723,582

2,704,239

2,722,914

2,704,239

Assumed conversion of net common shares issuable under stock option plans
53,492

—

44,028

—

Assumed conversion of net common shares issuable under warrants
38,504

—

31,221

—

Weighted average common and common equivalent shares outstanding, diluted
2,815,578

2,704,239

2,798,163

2,704,239

 
 
 
 
 
Income (loss) per share - diluted




 
 
Continuing operations
$
0.09

$
(1.06
)
$
0.18

$
(1.06
)
Discontinued operations
$
—

$
—

$
—

$
(0.01
)
Consolidated diluted EPS
$
0.09

$
(1.06
)
$
0.18

$
(1.07
)