| 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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September 30,
2013 |
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September 30,
2012 |
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September 30,
2013 |
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September 30,
2012 |
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Basic:
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Numerator:
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Net income
(loss)
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$ |
3,276 |
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$ |
(10,372 |
) |
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$ |
10,342 |
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$ |
3,999 |
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Less: Distributed
loss/distributed and undistributed income (unvested restricted
stock)
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29 |
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— |
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92 |
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34 |
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Net income (loss)
attributable to common shareholders
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$ |
3,247 |
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$ |
(10,372 |
) |
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$ |
10,250 |
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$ |
3,965 |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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14,462 |
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14,408 |
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14,458 |
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14,393 |
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Basic earnings (loss) per
share - common shareholders
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$ |
0.23 |
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$ |
(0.72 |
) |
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$ |
0.72 |
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$ |
0.28 |
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Diluted:
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Numerator:
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Net Income
(loss)
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$ |
3,276 |
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|
$ |
(10,372 |
) |
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$ |
10,342 |
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|
$ |
3,999 |
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Less: Distributed
loss/distributed and undistributed income (unvested restricted
stock)
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29 |
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— |
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|
92 |
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34 |
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Net income (loss)
attributable to common shareholders
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$ |
3,247 |
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$ |
(10,372 |
) |
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$ |
10,250 |
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$ |
3,965 |
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Denominator:
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Denominator for basic
earnings (loss) per share-weighted-average shares
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|
14,462 |
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|
14,408 |
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14,458 |
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14,393 |
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Effect of dilutive
securities:
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Employee stock
options
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6 |
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— |
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5 |
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24 |
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Denominator for dilutive
earnings per share-weighted-average shares
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14,468 |
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14,408 |
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14,463 |
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14,417 |
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Diluted earnings (loss) per
share - common shareholders
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$ |
0.23 |
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$ |
(0.72 |
) |
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$ |
0.72 |
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$ |
0.28 |
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