Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.6.0.2
Earnings Per Share
6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
9. 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      Six Months Ended  
     June 30      June 30  
     (Restated)      (Restated)  
     2016      2015      2016      2015  

Numerator:

           

Net income (in thousands)

   $ 153       $ 642       $ 194       $ 122   

Denominator:

           

Weighted average common shares outstanding:

           

Basic

     22,620,386         22,381,487         22,584,462         22,345,309   

Dilutive effect of non-vested awards

     489,484         443,478         485,438         398,639   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted

     23,109,870         22,824,965         23,069,900         22,743,948   

Net income per share:

           

Basic

   $ 0.01       $ 0.03       $ 0.01       $ 0.01   

Diluted

   $ 0.01       $ 0.03       $ 0.01       $ 0.01   
  

 

 

    

 

 

    

 

 

    

 

 

 

For the three and six months ended June 30, 2016, less than 0.1 million of stock options were not included in the calculation because they would have an anti-dilutive effect, compared to 0.1 million for the same prior year periods.