EARNINGS APPLICABLE TO COMMON STOCKHOLDERS
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS

NOTE E — EARNINGS APPLICABLE TO COMMON STOCKHOLDERS

 

Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as stock options.

 

    For the Three Months Ended  
    September 30, 2012  
    Net Income     Shares     Per  
    (Numerator)     (Denominator)     Share Data  
                   
Basic per share   $ 766,000       3,108,867     $ .25  
                         
Effect of dilutive shares:                        
Restricted stock grants             26,378          
                         
Diluted per share   $ 766,000       3,135,245     $ .24  

 

    For the Nine Months Ended  
    September 30, 2012  
    Net Income     Shares     Per  
    (Numerator)     (Denominator)     Share Data  
                   
Basic per share     2,562,000       3,099,024     $ .83  
                         
Effect of dilutive shares:                        
Restricted stock grants             26,378          
                         
Diluted per share   $ 2,562,000       3,125,402     $ .82  

 

    For the Three Months Ended  
    September 30, 2011  
    Net Income     Shares     Per  
    (Numerator)     (Denominator)     Share Data  
                   
Basic per share   $ 660,000       3,066,072     $ .22  
                         
Effect of dilutive shares:                        
Restricted stock grants             9,379          
                         
Diluted per share   $ 660,000       3,075,451     $ .21  

 

    For the Nine Months Ended  
    September 30, 2011  
    Net Income     Shares     Per  
    (Numerator)     (Denominator)     Share Data  
                   
Basic per share   $ 1,660,000       3,062,311     $ .54  
                         
Effect of dilutive shares:                        
Restricted stock grants             9,379          
                         
Diluted per share   $ 1,660,000       3,071,690     $ .54  

 

The Company granted 42,795 shares of restricted stock in the first quarter of 2012 and 33,850 shares of restricted stock in the first quarter of 2011.