NET INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2015

NET INCOME PER COMMON SHARE [Abstract]

NET INCOME PER COMMON SHARE

NOTE 19 - NET INCOME PER COMMON SHARE

	Year ended December 31,
	2015		2014		2013
	(thousands of dollars)
Net income	$	18,598	$	15,571	$	19,498
Basic earnings per common share:
Weighted average shares outstanding		24,370		24,188		24,115
Per share amount (dollars)	$	0.76	$	0.64	$	0.81
Diluted earnings per common share:
Weighted average shares outstanding		25,181		24,896		24,745
Per share amount (dollars)	$	0.74	$	0.63	$	0.79

Weighted average shares-denominator   basic computation	24,370	24,188	24,115
Unvested restricted stock grant	141	-	-
Effect of dilutive stock options	670	708	630
Weighted average shares, as adjusted   denominator diluted computation	25,181	24,896	24,745

At December 31, 2015, 2014, and 2013, 1,376,437, 1,598,191 and 1,326,360 potential common stock shares, respectively, were issuable upon the exercise of options and warrants.

The earnings per share calculations for the periods ended December 31, 2015, 2014, and 2013, include 300,000 shares of the Company that are held in the treasury of TOCCO.