Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2014

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 nine months ended September 30, 2014 and 2013:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Numerator:
	Net income	$	1,628,562	$	1,561,832	$	5,248,459	$	4,777,506
	Numerator for basic and diluted earnings per share		1,628,562		1,561,832		5,248,459		4,777,506
Denominator:
	Weighted-average shares outstanding-basic		10,203,711		10,176,744		10,200,411		10,163,490
Effect of dilutive securities:
	Stock options		36,294		44,768		38,133		41,858
	Restricted stock		1,405		-		1,565
Dilutive potential common shares			37,699		44,768		39,698		41,858
	Denominator for diluted earnings per share-weighted-average shares		10,241,410		10,221,512		10,240,109		10,205,348
	Basic earnings per share	$	0.16	$	0.15	$	0.51	$	0.47
	Diluted earnings per share	$	0.16	$	0.15	$	0.51	$	0.47

The net effect of converting stock options to purchase 84,600 and 111,600 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 September 30, 2014 and 2013, respectively.