EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2014

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

(3) EARNINGS PER SHARE

The Company calculates earnings per share in accordance with ASC Topic 260.

	Quarters Ended June 30,
	2013						2014
	Net Income/(Loss)		Shares		Per Share Amount		Net Income/(Loss)			Shares		Per Share Amount
Basic EPS	$	179,560		1,851,598	$	0.10	$	(59,241	)		1,860,089	$	(0.03	)
Effect of Dilutive Stock Options		-		12,257		-		-			-		-
Diluted EPS	$	179,560		1,863,855	$	0.10	$	(59,241	)		1,860,089	$	(0.03	)

The difference in weighted average shares outstanding between basic earnings per share and diluted earnings per share for the quarter ended June 30, 2013 relates to the effect of 12,257, 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, 2014 and 2013, options to purchase 396,012 and 432,666 shares, respectively, of Common Stock were not included in the computation of diluted earnings/(loss) per share because their effect was anti-dilutive.

	Six Months Ended June 30,
	2013						2014
	Net Income/(Loss)		Shares		Per Share Amount		Net Income/(Loss)			Shares		Per Share Amount
Basic EPS	$	420,870		1,849,118	$	0.23	$	(9,908	)		1,857,288	$	(0.01	)
Effect of Dilutive Stock Options		-		11,902		-		-			-
Diluted EPS	$	420,870		1,861,020	$	0.23	$	(9,908	)		1,857,288	$	(0.01	)

The difference in weighted average shares outstanding between basic earnings per share and diluted earnings per share for the six months ended June 30, 2013 relates to the effect of 11,902, dilutive shares of Common Stock from stock options, which are included in total shares for the diluted earnings per share calculation.  For the six months ended June 30, 2014 and 2013, options to purchase 397,341 and 444,666 shares, respectively, of Common Stock were not included in the computation of diluted earnings/(loss) per share because their effect was anti-dilutive.