Basic and Diluted Earnings Per Share

6 Months Ended

Jun. 30, 2014

Basic and Diluted Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

11.Basic and Diluted Earnings Per Share

Basic and diluted earnings per common share are calculated based on the weighted average number of shares outstanding during the period. The Company’s employee and director stock option awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Numerator:
Net earnings	$	302	$	1,262	$	892	$	2,175
Denominator:
Weighted average basic shares outstanding		7,172		5,907		7,172		5,907
Effect of dilutive securities - equity based compensation plans		54		17		60		15
Net dilutive effect of warrants outstanding		11		-		12		-
Denominator for diluted earnings per common share		7,237		5,924		7,244		5,922
Net earnings per common share:
Basic	$	0.04	$	0.21	$	0.12	$	0.37
Diluted	$	0.04	$	0.21	$	0.12	$	0.37
Anti-dilutive securities (excluded from per share calculation):
Equity based compensation plans		223		118		223		118
Warrants		630		640		630		640