| 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):
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Three Months Ended |
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Nine Months Ended |
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Sep 30,
2014 |
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Sep 30,
2013 |
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Sep 30,
2014 |
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Sep 30,
2013 |
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Basic:
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Numerator:
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Net Income
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$ |
7,586 |
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$ |
3,276 |
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$ |
15,431 |
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$ |
10,342 |
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Less: Distributed and undistributed income (unvested restricted
stock)
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79 |
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29 |
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157 |
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92 |
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Net income attributable to common shareholders
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$ |
7,507 |
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$ |
3,247 |
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$ |
15,274 |
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$ |
10,250 |
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Denominator:
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Denominator for basic earnings per share-weighted-average
shares
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14,506 |
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14,462 |
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14,501 |
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14,458 |
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Basic earnings per share—common shareholders
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$ |
0.52 |
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$ |
0.23 |
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$ |
1.05 |
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$ |
0.72 |
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Diluted:
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Numerator:
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Net Income
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$ |
7,586 |
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$ |
3,276 |
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$ |
15,431 |
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$ |
10,342 |
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Less: Distributed and undistributed income (unvested restricted
stock)
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|
79 |
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29 |
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|
157 |
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|
92 |
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Net income attributable to common shareholders
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$ |
7,507 |
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$ |
3,247 |
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$ |
15,274 |
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$ |
10,250 |
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Denominator:
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Denominator for basic earnings per share-weighted-average
shares
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14,506 |
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14,462 |
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14,501 |
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14,458 |
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Effect of dilutive securities:
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Employee stock options
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— |
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6 |
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— |
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5 |
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Denominator for dilutive earnings per share-weighted-average
shares
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14,506 |
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14,468 |
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14,501 |
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14,463 |
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Diluted earnings per share—common shareholders
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$ |
0.52 |
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$ |
0.23 |
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$ |
1.05 |
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$ |
0.72 |
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