NET INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2013

NET INCOME PER COMMON SHARE [Abstract]

NET INCOME PER COMMON SHARE

NOTE 16 - NET INCOME PER COMMON SHARE

	Year ended December 31,
	2013		2012		2011
	(thousands of dollars)
Net income	$	19,498	$	10,321	$	13,884
Basic earnings per common share:
Weighted average shares outstanding		24,115		24,081		23,993
Per share amount (dollars)	$	0.81	$	0.43	$	0.58
Diluted earnings per common share:
Weighted average shares outstanding		24,745		24,745		24,267
Per share amount (dollars)	$	0.79	$	0.42	$	0.57

Weighted average shares-denominator basic computation	24,115	24,081	23,993
Effect of dilutive stock options	630	664	274
Weighted average shares, as adjusted denominator diluted computation	24,745	24,745	24,267

At December 31, 2013, 2012, and 2011, 1,226,360, 1,173,180 and 1,347,750 potential common stock shares, respectively, were issuable upon the exercise of options.

The earnings per share calculations for the periods ended December 31, 2013, 2012, and 2011, include 300,000 shares of the Company that are held in the treasury of TOCCO.