EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

4. EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period increased to include all additional common shares that would have been outstanding assuming potentially dilutive common shares, resulting from option exercises, had been issued and any proceeds thereof used to repurchase common stock at the average market price during the period. In periods in which there is a net loss, potentially dilutive common shares are excluded from the computation of diluted earnings per share as their effect would be anti-dilutive.

	2012		2011		2010
Net income (loss) for diluted computation	$	2,981,075	$	6,601,626	$	(1,508,540	)
Weighted average shares:
Basic		6,351,245		6,340,648		6,261,214
Effect of dilutive securities:
Stock options		630,282		611,738		-
Diluted		6,981,527		6,952,386		6,261,214
Net income (loss) Per Share:
Basic	$	0.47	$	1.04	$	(0.24	)
Diluted	$	0.43	$	0.95	$	(0.24	)

For the year ended December 31, 2010, 912,001of potential common shares were excluded from the diluted loss per share calculation because their effect was anti-dilutive as a result of the Company's net loss.