Note 4 - Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

4.      EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2013 and 2012:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Numerator:
Net income	$	1,629,353	$	1,539,638	$	3,215,674	$	3,113,744
Numerator for basic and diluted earnings per share		1,629,353		1,539,638		3,215,674		3,113,744
Denominator:
Weighted-average shares outstanding-basic		10,167,649		10,156,442		10,165,060		10,156,442
Effect of dilutive securities:
Stock options		48,886		15,729		40,379		16,119
Dilutive potential common shares		48,886		15,729		40,379		16,119
Denominator for diluted earnings per share-weighted-average shares		10,216,535		10,172,171		10,205,439		10,172,561
Basic earnings per share	$	0.16	$	0.15	$	0.32	$	0.30
Diluted earnings per share	$	0.16	$	0.15	$	0.32	$	0.30

The net effect of converting stock options and warrants to purchase 133,600 and 106,600 shares of common stock at exercise prices less than the average market prices has been included in the computations of diluted earnings per share for the quarter ended June 30, 2013 and 2012, respectively.