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v2.4.0.6
Note 3 - Earnings per Share
6 Months Ended
May 31, 2012
Earnings Per Share [Text Block]
3. Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

   
For the 3 months ended May 31,
   
For the 6 months ended May 31,
 
   
2012
   
2011
   
2012
   
2011
 
Numerator:
                       
Net income available to common shareholders
  $ 267,094     $ 144,057     $ 276,915     $ 178,912  
                                 
Denominator:
                               
Weighted average outstanding shares
                               
Basic
    7,263,508       7,263,508       7,263,508       7,263,508  
Earnings per Share - Basic
  $ 0.04     $ 0.02     $ 0.04     $ 0.02  
                                 
Effect of dilutive common stock
    2,002       1,437       2,199       732  
Weighted average outstanding shares
                               
Diluted
    7,265,510       7,264,945       7,265,707       7,264,240  
Earnings per share - Diluted
  $ 0.04     $ 0.02     $ 0.04     $ 0.02  

The Company excluded 350,400 and 360,400 potential shares attributable to outstanding stock options from the calculation of diluted earnings per share for the three and six months ended May 31, 2012 and 2011, respectively, because their inclusion would have been anti-dilutive.