| 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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Six Months
Ended |
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June 30,
2013 |
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June 30,
2012 |
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June 30,
2013 |
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June 30,
2012 |
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Basic:
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Numerator:
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Net Income
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$ |
4,279 |
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$ |
7,592 |
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$ |
7,066 |
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$ |
14,371 |
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Less: Distributed
loss/distributed and undistributed income (unvested restricted
stock)
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38 |
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70 |
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61 |
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132 |
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Net income attributable to
common shareholders
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$ |
4,241 |
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$ |
7,522 |
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$ |
7,005 |
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$ |
14,239 |
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Denominator:
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Denominator for basic
earnings per share-weighted-average shares
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14,457 |
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14,388 |
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14,456 |
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14,385 |
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Basic earnings per share -
common shareholders
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$ |
0.30 |
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$ |
0.52 |
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$ |
0.49 |
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$ |
0.99 |
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Diluted:
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Numerator:
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Net Income
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$ |
4,279 |
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$ |
7,592 |
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$ |
7,066 |
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$ |
14,371 |
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Less: Distributed
loss/distributed and undistributed income (unvested restricted
stock)
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38 |
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|
70 |
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61 |
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|
132 |
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Net income attributable to
common shareholders
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$ |
4,241 |
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$ |
7,522 |
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$ |
7,005 |
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$ |
14,239 |
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Denominator:
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Denominator for basic
earnings per share-weighted-average shares
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|
14,457 |
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|
14,388 |
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|
14,456 |
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|
14,385 |
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Effect of dilutive
securities:
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Employee stock
options
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3 |
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21 |
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3 |
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24 |
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Denominator for dilutive
earnings per share-weighted-average shares
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14,460 |
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14,409 |
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14,459 |
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14,409 |
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Diluted earnings per share
- common shareholders
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$ |
0.30 |
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$ |
0.52 |
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$ |
0.49 |
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$ |
0.99 |
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