Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

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Note 2 - Net Income Per Share
 3 Months Ended
Dec. 31, 2012
Earnings Per Share [Text Block]
Note 2.  Net Income Per Share

Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options, when dilutive.

   
Three Months Ended December 31
 
   
2012
   
2011
 
Net income
  $ 545,211     $ 999,599  
Weighted average common shares
    12,476,173       12,299,554  
Dilutive potential common shares
    322,141       426,739  
Weighted average dilutive common shares outstanding
    12,798,314       12,726,293  
Net income per common share:
               
    Basic
  $ 0.04     $ 0.08  
    Diluted
  $ 0.04     $ 0.08  

The calculation of diluted net income per common share excludes 324,500 potentially dilutive shares for the three months ended December 31, 2012 because their effect would be anti-dilutive. There were no shares excluded for the three months ended December 31, 2012 as all shares were dilutive.