Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

5.

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:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2018			2017		2018		2017
Net (loss) income	$	(121,534	)	$	521,414	$	2,592,177	$	2,780,411
Numerator for basic and diluted earnings per share	$	(121,534	)		521,414		2,592,177		2,780,411
Denominator for basic EPS: weighted-average shares		9,154,209			9,270,862		9,199,173		9,232,397
Effect of dilutive securities:
Stock options		-			-		-		9,810
Restricted stock		822			3,088		786		3,859
Dilutive potential common shares		822			3,088		786		13,669
Denominator for diluted EPS-weighted-average shares		9,155,031			9,273,950		9,199,959		9,246,066
Basic (loss) earnings per share	$	(0.01	)	$	0.06	$	0.28	$	0.30
Diluted (loss) earnings per share	$	(0.01	)	$	0.06	$	0.28	$	0.30

The net effect of assuming the exercise of all potentially dilutive common share equivalents, including stock options to purchase common stock at exercise prices less than the average market prices and restricted stock awards of an aggregate of

20,153

and

36,801

shares of common stock have been included in the computations of diluted EPS for the periods ended

September 30, 2018

and

2017,

respectively.