Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) Per Common Share

 v2.3.0.11
Income (Loss) Per Common Share
 6 Months Ended
Jun. 30, 2011
Income (Loss) Per Common Share [Abstract]  
Income (Loss) Per Common Share
(3) Income (Loss) Per Common Share
     Basic income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding and common share equivalents related to stock options and warrants when dilutive.
     Common stock options to purchase 464,000 shares of common stock with a weighted average exercise price of $3.78 were outstanding at June 30, 2011. Common stock options to purchase 374,000 shares of common stock with a weighted average exercise price of $3.85 were outstanding for the three and six month periods ended June 30, 2010, respectively. Because the Company had a loss from operations during the three and six month periods ended June 30, 2010, those shares were excluded from the net loss per common share computation because they were antidilutive.
Diluted shares outstanding for the three and six month periods ended June 30, 2011, was computed as follows:
                 
    Three     Six  
    Months     Months  
Net income for per share computation
  $ 250,438     $ 1,155,650  
 
           
 
               
Weighted average common shares outstanding
    4,305,026       4,305,026  
Incremental shares from assumed exercise of stock options
    3,467       4,552  
 
           
 
               
Shares outstanding — diluted
    4,308,493       4,309,578