Note 2 - Earnings Per Share:

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

NOTE 2 - EARNINGS PER SHARE:

The reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three month periods ended March 31, 2012 and 2011 is as follows (000's omitted, except for per share amounts):

	For the three-month period ended March 31,
	2012		2011
Numerator
Net Income	$	1,309	$	958
Denominator
Weighted average shares outstanding (basic)		11,975		11,813
Effect of dilutive options and warrants		30		54
Weighted average shares and dilutive potential Common shares (diluted)		12,005		11,867
Basic earnings per share	$	0.11	$	0.08
Diluted earnings per share	$	0.11	$	0.08

For the three months ended March 31, 2012 and 2011, options to purchase approximately 10,000 and 36,000 shares of common stock, respectively, were excluded from the computation of diluted earnings per share as the exercise price of the options was above the average market price of the shares of common stock.

As of March 31, 2012, there were 12,023,921 shares of common stock issued, 11,986,713 shares of common stock outstanding and 37,208 held as treasury shares.  As of December 31, 2011, there were 11,894,302 shares of common stock issued, 11,857,094 shares of common stock outstanding and 37,208 held as treasury shares.