Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 10. EARNINGS PER SHARE (EPS)

The table below reconciles the numerator and denominator of EPS for the nine and three months ended September 30, 2013 and 2012.

(in thousands, except per-share information)
			Nine Months Ended				Three Months Ended
			September 30,				September 30,
				2013		2012		2013		2012
Basic and diluted EPS per common share:
Numerator for basic and diluted EPS per common share:
	Net (loss) income - Basic and diluted		$	(2,143)	$	802	$	(997)	$	545
Weighted average common shares:
	Common shares outstanding or to be
		issued at the balance sheet date		3,342		982		3,342		982
	Effect of weighting			(441)		-		-		-
Weighted average shares-basic and diluted				2,901		982		3,342		982
(Loss) income per common share:
	Basic and diluted		$	(0.74)	$	0.82	$	(0.30)	$	0.56

On February 14, 2013, Orchid's Board of Directors declared a stock dividend whereby 5.37 shares of common stock were issued for each share of common stock outstanding. The 827,555 shares distributed pursuant to the dividend were issued to Bimini on February 20, 2013, immediately prior to Orchid's IPO.For the nine and three months ended September 30, 2012, the 981,665 common shares, which includes the 154,110 shares of common stock outstanding at December 31, 2012 and the 827,555 shares distributed as a stock dividend,is used for the EPS computation, as Bimini was the sole stockholder during the entire period.