Earnings per common share

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Earnings per common share

Basic earnings per common share are computed by dividing net income by the weighted-average number of shares outstanding. Diluted earnings per common share include the dilutive effect of stock options, if any.

Earnings per common share was computed as follows:

	For the Three Month
	Periods Ended
	September 30,
	2011		2010
Net income	$	59,400	$	2,200
Weighted average common shares outstanding		1,196,577		1,196,577
Dilutive securities		14,924		15,413
Weighted average dilutive common shares outstanding		1,211,501		1,211,990
Basic earnings per common share	$	0.05	$	—
Diluted earnings per common share	$	0.05	$	—

Approximately 2,000 shares of the Company’s Common Stock issuable upon the exercise of outstanding stock options were excluded from the calculation of diluted earnings per common share for the three months ended September 30, 2011, because the effect would be anti-dilutive.