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Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share  
Earnings Per Share

Note I - Earnings Per Share

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method.  Dilutive potential common shares include outstanding stock options and non-vested shares.

 

Reconciliations of basic and diluted earnings per share (EPS) are as follows:

 

 

 

Three Months Ended March 31,

 In thousands, except per share amounts

 

2014

 

2013

 Net Income

 

 

 

 

 

 

 Income from continuing operations

 

 $

1,845

 

 

 $

6,319

 Income from discontinued operations

 

0

 

 

348

 Net income

 

 $

1,845

 

 

 $

6,667

 

 

 

 

 

 

 

 Basic EPS

 

 

 

 

 

 

 Weighted-average common shares outstanding

 

 

 

 

 

 

used in earnings per share computations

 

62,686

 

 

62,471

 

 

 

 

 

 

 

 Basic earnings per share

 

 

 

 

 

 

Continuing operations

 

 $

0.03

 

 

 $

0.10

Discontinued operations

 

0.00

 

 

0.01

Net income

 

 $

0.03

 

 

 $

0.11

 

 

 

 

 

 

 

 Diluted EPS

 

 

 

 

 

 

 Shares used in diluted earnings per share

 

 

 

 

 

 

computations

 

62,971

 

 

62,669

 

 

 

 

 

 

 

 Basic earnings per share

 

 

 

 

 

 

Continuing operations

 

 $

0.03

 

 

 $

0.10

Discontinued operations

 

0.00

 

 

0.01

Net income

 

 $

0.03

 

 

 $

0.11

 

 

 

 

 

 

 

 Computation of Shares Used in Earnings Per

 

 

 

 

 

 

 Share Computations

 

 

 

 

 

 

 Weighted-average common shares outstanding

 

62,686

 

 

62,471

 Weighted-average common equivalent shares-

 

 

 

 

 

 

dilutive effect of stock options and awards

 

285

 

 

198

 Shares used in diluted earnings per share

 

 

 

 

 

 

computations

 

62,971

 

 

62,669

 

3.6 million and 4.4 million anti-dilutive market price options have been excluded from the calculation of shares used in the diluted EPS calculation for the three months ended March 31, 2014 and 2013, respectively.  There were no anti-dilutive unvested shares excluded from the calculation of shares used in the diluted EPS calculation for the three months ended March 31, 2014.  0.4 million anti-dilutive non-vested shares have been excluded from the calculation of shares used in the diluted EPS calculation for the three months ended March 31, 2013.