Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

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Earnings Per Share
6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
8. 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
June 30
     Six Months Ended
June 30
 
     2015      2014      2015      2014  

Numerator:

           

Net income (in thousands)

   $ 783       $ 886       $ 368       $ 1,469   

Denominator:

           

Weighted average common shares outstanding:

           

Basic

     22,381,487         22,146,106         22,345,309         22,059,902   

Dilutive effect of non-vested awards

     443,478         253,328         398,639         261,241   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted

     22,824,965         22,399,434         22,743,948         22,321,143   

Net income per share:

           

Basic

   $ 0.03       $ 0.04       $ 0.02       $ 0.07   

Diluted

   $ 0.03       $ 0.04       $ 0.02       $ 0.07   
  

 

 

    

 

 

    

 

 

    

 

 

 

For the three and six months ended June 30, 2015 and 2014, 0.1 million of stock options were not included in the calculation because they would have an anti-dilutive effect.