NET INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2012

NET INCOME PER COMMON SHARE [Abstract]

NET INCOME PER COMMON SHARE

NOTE 18 - NET INCOME PER COMMON SHARE

	Year ended December 31,
	2012		2011		2010
	(Restated - see Note 3)		(Restated - see Note 2)		(Restated - see Note 2)
	(thousands of dollars)
Net income	$	10,321	$	13,884	$	2,075
Basic earnings per common share:
Weighted average shares outstanding		24,081		23,993		23,769
Per share amount (dollars)	$	0.43	$	0.58	$	0.09
Diluted earnings per common share:
Weighted average shares outstanding		24,745		24,267		23,780
Per share amount (dollars)	$	0.42	$	0.57	$	0.09

Weighted average shares-denominator basic computation	24,081	23,993	23,769
Effect of dilutive stock options	664	274	11
Weighted average shares, as adjusted denominator diluted computation	24,745	24,267	23,780

At December 31, 2012, 2011, and 2010, 1,173,180, 1,347,750 and 1,076,667 potential common stock shares, respectively, were issuable upon the exercise of options.

The earnings per share calculations for the periods ended December 31, 2012, 2011, and 2010, include 300,000 shares of the Company that are held in the treasury of TOCCO.