| Earnings Per Share |
4. Earnings Per Share
Basic earnings per share excludes dilution and
is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period.
Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock
were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of
such items would be antidilutive.
The following is a reconciliation of the amounts
used in calculating basic and diluted net income (loss) per common share.
| |
|
Net |
|
Per Share |
|
|
| |
|
Income |
|
Shares |
|
Amount |
| Basic net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| three months ended September 30, 2011: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
63,133 |
|
|
|
11,196,760 |
|
|
$ |
0.01 |
|
| Effect of dilutive stock options |
|
|
|
|
|
|
36,553 |
|
|
|
|
|
| Diluted net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| three months ended September 30, 2011: |
|
$ |
63,133 |
|
|
|
11,233,313 |
|
|
$ |
0.01 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| three months ended September 30, 2010: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
42,383 |
|
|
|
11,196,760 |
|
|
$ |
0.00 |
|
| Effect of dilutive stock options |
|
|
|
|
|
|
27,761 |
|
|
|
|
|
| Diluted net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| three months ended September 30, 2010: |
|
$ |
42,383 |
|
|
|
11,224,521 |
|
|
$ |
0.00 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| nine months ended September 30, 2011: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
101,320 |
|
|
|
11,196,760 |
|
|
$ |
0.01 |
|
| Effect of dilutive stock options |
|
|
|
|
|
|
23,535 |
|
|
|
|
|
| Diluted net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| nine months ended September 30, 2011: |
|
$ |
101,320 |
|
|
|
11,220,295 |
|
|
$ |
0.01 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| nine months ended September 30, 2010: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
224,595 |
|
|
|
11,196,760 |
|
|
$ |
0.02 |
|
| Effect of dilutive stock options |
|
|
|
|
|
|
20,073 |
|
|
|
|
|
| Diluted net income per common share for the |
|
|
|
|
|
|
|
|
|
|
|
|
| nine months ended September 30, 2010: |
|
$ |
224,595 |
|
|
|
11,216,833 |
|
|
$ |
0.02 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|