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EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2013
EARNINGS PER SHARE [Abstract]  
Earnings per share calculation
The Company calculates earnings per share in accordance with ASC Topic 260.

 
 
Quarters Ended June 30,
 
 
 
2012
  
2013
 
 
 
 
Net Income
  
 
Shares
  
Per Share Amount
  
 
Net Income
  
 
Shares
  
Per Share Amount
 
 
 
  
  
  
  
  
 
Basic EPS
 
$
142,166
   
1,843,738
  
$
0.08
  
$
179,560
   
1,851,598
  
$
0.10
 
 
                        
Effect of Dilutive Stock Options
  
-
   
8,365
   
-
   
-
   
12,257
   
-
 
 
                        
Diluted EPS
 
$
142,166
   
1,852,103
  
$
0.08
  
$
179,560
   
1,863,855
  
$
0.10
 
 
The difference in weighted average shares outstanding between basic earnings per share and diluted earnings per share for the quarters ended June 30, 2013 and 2012 relates to the effect of 12,257 and 8,365, respectively, dilutive shares of the Company's Common Stock ("Common Stock") from stock options, which are included in total shares for the diluted earnings per share calculation.  For the quarters ended June 30, 2013 and 2012, options to purchase 432,666 and 457,600 shares, respectively, of Common Stock were not included in the computation of dilutive earnings per share because their effect was anti-dilutive.
 
 
 
Six Months Ended June 30,
 
 
 
2012
  
2013
 
 
 
 
Net Income
  
 
Shares
  
Per Share Amount
  
 
Net Income
  
 
Shares
  
Per Share Amount
 
 
 
  
  
  
  
  
 
Basic EPS
 
$
450,958
   
1,843,302
  
$
0.24
  
$
420,870
   
1,849,118
  
$
0.23
 
 
                        
Effect of Dilutive Stock Options
  
-
   
10,131
   
-
   
-
   
11,902
   
-
 
 
                        
Diluted EPS
 
$
450,958
   
1,853,433
  
$
0.24
  
$
420,870
   
1,861,020
  
$
0.23