Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.2.0.727
EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
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
 
Six Months Ended
 
June 30,
2015
 
June 30,
2014
 
June 30,
2015

June 30,
2014
Basic:
 
 
 
 
 


Numerator:
 
 
 
 
 


Net Income
$
1,357

 
$
4,310

 
$
1,440

 
$
7,845

Less: Distributed and undistributed income (unvested restricted stock)
24

 
44

 
48

 
80

Net income attributable to common shareholders
$
1,333

 
$
4,266

 
$
1,392

 
$
7,765

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per share-weighted-average shares
14,540

 
14,500

 
14,540

 
14,498

Basic earnings per share - common shareholders
$
0.09

 
$
0.30

 
$
0.10

 
$
0.54

Diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net Income
$
1,357

 
$
4,310

 
$
1,440

 
$
7,845

Less: Distributed and undistributed income (unvested restricted stock)
24

 
44

 
48

 
80

Net income attributable to common shareholders
$
1,333

 
$
4,266

 
$
1,392

 
$
7,765

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per share-weighted-average shares
14,540

 
14,500

 
14,540

 
14,498

Effect of dilutive securities:
 
 
 
 
 
 
 
Employee stock options

 

 

 

Denominator for dilutive earnings per share-weighted-average shares
14,540

 
14,500

 
14,540

 
14,498

Diluted earnings per share - common shareholders
$
0.09

 
$
0.30

 
$
0.10

 
$
0.54