Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 6 – EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

Three Months Ended Nine Months Ended
September 30,
2013
September 30,
2012
September 30,
2013
September 30,
2012

Basic:

Numerator:

Net income (loss)

$ 3,276 $ (10,372 ) $ 10,342 $ 3,999

Less: Distributed loss/distributed and undistributed income (unvested restricted stock)

29 92 34

Net income (loss) attributable to common shareholders

$ 3,247 $ (10,372 ) $ 10,250 $ 3,965

Denominator:

Denominator for basic earnings (loss) per share-weighted-average shares

14,462 14,408 14,458 14,393

Basic earnings (loss) per share - common shareholders

$ 0.23 $ (0.72 ) $ 0.72 $ 0.28

Diluted:

Numerator:

Net Income (loss)

$ 3,276 $ (10,372 ) $ 10,342 $ 3,999

Less: Distributed loss/distributed and undistributed income (unvested restricted stock)

29 92 34

Net income (loss) attributable to common shareholders

$ 3,247 $ (10,372 ) $ 10,250 $ 3,965

Denominator:

Denominator for basic earnings (loss) per share-weighted-average shares

14,462 14,408 14,458 14,393

Effect of dilutive securities:

Employee stock options

6 5 24

Denominator for dilutive earnings per share-weighted-average shares

14,468 14,408 14,463 14,417

Diluted earnings (loss) per share - common shareholders

$ 0.23 $ (0.72 ) $ 0.72 $ 0.28