Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
Note 12 Earnings Per Share
 
The following table sets forth the computation of basic and diluted earnings per share from continuing operations:
 
   
2011
    
2010
    
2009
  
Numerator:
                  
  Net income from continuing operations
   $ 5,797,160     $ 4,033,823     $ 218,625  
Denominator:
                        
  Denominator for basic earnings per
                        
    share - weighted average shares
     6,313,418       6,282,497       6,261,805  
  Effect of dilutive securities:
                        
    Employee stock options and stock grants
     48,670       26,701       7,625  
  Denominator for diluted earnings per
                        
    share - weighted average shares
     6,362,088       6,309,198       6,269,430  
                         
Income per share from continuing operations:
                        
    Basic
   $ 0.92     $ 0.64     $ 0.03  
    Diluted
   $ 0.91     $ 0.64     $ 0.03  
 
The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had weighted average shares of common stock of 139,484 in 2011, 63,184 in 2010 and 98,502 in 2009, which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.