EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2015

Basic earnings per share is computed using the weighted average number of shares of common stock outstanding during the period. In periods of earnings, the weighted average number of shares used in the diluted calculation includes common stock equivalents related to stock options and restricted stock. The following table presents the basis of the earnings per share computation (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Numerator for basic and diluted earnings per share:
Earnings from continuing operations	$	1,586	$	1,349	$	178	$	678
Gain from disposal of discontinued operation, net of tax	—		—		—		218
Net earnings applicable to common shareholders	$	1,586	$	1,349	$	178	$	896

Denominator:
Denominator for basic earnings per share — weighted average shares	12,776		12,715		12,759		12,607
Assumed exercise of stock options	21		24		22		24
Assumed satisfaction of restricted stock conditions	60		81		81		78
Denominator for diluted earnings per share — adjusted weighted average shares	12,857		12,820		12,862		12,709

Common stock equivalents of certain stock-based awards totaling 32,342 and 45,033 were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2015 and 2014, respectively, as they were anti-dilutive. Common stock equivalents of certain stock-based awards totaling 24,544 and 48,053 were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2015 and 2014, respectively, as they were anti-dilutive.