v2.4.0.6
Earnings per Share
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings per Share

Note 3 - Earnings per Share:

 

Earnings per share are computed based upon the weighted average number of shares of common stock outstanding during the three and nine month periods. Diluted earnings per share show the potential dilutive effect of additional common shares issuable under the Company’s stock compensation plan and warrants. For the three months ended September 30, 2012 and 2011, 187,720 and 416,604 options were not considered, as they were not dilutive, and for the nine months ended September 30, 2012 and 2011, 264,389 and 354,616 options were not considered, as they were not dilutive. The following table presents the numbers of shares used to compute basic and diluted earnings per share for the indicated periods:

 

  Three Months
Ended
September 30
  Nine Months
Ended
September 30
 
  2012  2011  2012  2011 
Weighted average shares outstanding  7,465,926   7,432,995   7,459,988   7,432,762 
Dilutive effects of assumed exercises of stock options, restricted stock units and warrants  88,133   55,748   77,415   41,332 
Shares used to compute diluted earnings per share  7,554,059   7,488,743   7,537,403   7,474,094