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Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share  
Earnings Per Share

15. Earnings Per Share

        We calculate earnings per share using the two class method. The following table presents the basis of the earnings per share computation:

 
   Year Ended December 31,  
 
   2013   2012   2011  
 
   (in thousands except per share data)
  

Numerator for basic and diluted earnings per share:

                    

Earnings from continuing operations

   $ 4,395   $ 17,855   $ 11,986  

Earnings from discontinued operation

     642     —     —  

Gain on disposal of discontinued operations

     4,890              

Earnings allocated to participating securities

     (3 )   (125 )   (162 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings applicable to common shareholders

   $ 9,924   $ 17,730   $ 11,824  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Denominator:

     11,801              

Denominator for basic earnings per share—weighted average shares

           11,557     11,463  

Assumed exercise of stock options

     28     24     25  

Assumed satisfaction of restricted stock conditions

     62     15     1  

Assumed satisfaction of performance share conditions

     —     —     59  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Denominator for diluted earnings per share—adjusted weighted average shares

     11,891     11,596     11,548  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Shares of certain stock-based awards totaling 52,125, 145,262, and 161,299 were excluded from the calculation of diluted earnings per share for 2013, 2012 and 2011, respectively, as they were anti-dilutive.