Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings (Loss) Per Share

Basic earnings (loss) per share are based on the weighted average number of common shares outstanding during each period. Diluted earnings per share are based on the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents during each period. The exercise price for certain stock options awarded by the Company exceeds the average market price of the Company's common stock. Such stock options are antidilutive and are not included in the computation of earnings (loss) per share. In the three months ended June 30, 2014, as well as in the six month periods ended June 30, 2014 and 2013, no potential common stock equivalents were included as the effect of such would be anti-dilutive. During the three month period ended June 30, 2013, incremental shares related to 1,344,211 potential common stock equivalents were included in the computation of diluted earnings per share.

The following table reconciles the denominators used in the computations of both basic and diluted loss per share:

	Three months ended June 30,		Six months ended June 30,
	2014	2013	2014	2013
Basic:
Weighted average shares outstanding	27,422,658	27,270,367	27,410,384	27,250,268
Diluted:
Total basic weighted average shares outstanding	27,422,658	27,270,367	27,410,384	27,250,268
Effect of dilutive securities:
Common stock options	—	330,294	—	—
Total weighted average shares outstanding assuming dilution	27,422,658	27,600,661	27,410,384	27,250,268
Anti-dilutive stock options	795,133	784,294	795,133	798,345
Shares of common stock issued from the exercise of stock options	33,908	63,134	54,922	97,100