EARNINGS APPLICABLE TO COMMON STOCKHOLDERS

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

EARNINGS APPLICABLE TO COMMON STOCKHOLDERS

NOTE E — EARNINGS APPLICABLE TO COMMON STOCKHOLDERS

Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as stock options. 

		For the Three Months Ended
		September 30, 2013
		Net Income	Shares		Per
		(Numerator)	(Denominator)		Share Data
Basic per share	$	998,000	5,102,572	$	.20
Effect of dilutive shares:
Restricted stock grants			47,945
Diluted per share	$	998,000	5,150,517	$	.19

	For the Nine Months Ended
	September 30, 2013
	Net Income		Shares		Per
	(Numerator)		(Denominator)		Share Data
Basic per share	$	2,823,000		4,058,432	$	.70
Effect of dilutive shares:
Restricted stock grants				47,945
Diluted per share	$	2,823,000		4,106,377	$	.69

	For the Three Months Ended
	September 30, 2012
	Net Income		Shares		Per
	(Numerator)		(Denominator)		Share Data
Basic per share	$	766,000		3,108,867	$	.25
Effect of dilutive shares:
Restricted stock grants				26,378
Diluted per share	$	766,000		3,135,245	$	.24

	For the Nine Months Ended
	September 30, 2012
	Net Income		Shares		Per
	(Numerator)		(Denominator)		Share Data
Basic per share	$	2,562,000		3,099,024	$	.83
Effect of dilutive shares:
Restricted stock grants				26,378
Diluted per share	$	2,562,000		3,125,402	$	.82

The Company granted 35,133 shares of restricted stock in the first quarter of 2013, 15,500 shares of restricted stock in the third quarter of 2013 and 42,795 shares of restricted stock in the first quarter of 2012.