Quarterly report pursuant to sections 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
7. Earnings Per Share

Basic income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted income per share assumes the issuance of potentially dilutive shares of common stock during the period. The following table reconciles the numerators and denominators of the basic and diluted income per share computations:

 

     Three Months Ended  
     March 31  
     2014      2013  

Numerator:

     

Net income (in thousands)

   $ 583       $ 51   

Denominator:

     

Weighted average common shares outstanding:

     

Basic

     21,972,739         21,802,515   

Dilutive effect of non-vested awards

     483,404         435,645   
  

 

 

    

 

 

 

Diluted

     22,456,143         22,238,160   

Net income (loss) per share:

     

Basic

   $ 0.03       $ —     

Diluted

   $ 0.03       $ —     
  

 

 

    

 

 

 

For the three months ended March 31, 2014, vested stock options of 0.1 million were not included in the calculation because they were not in-the-money.