Earnings per share

9 Months Ended

Sep. 30, 2013

Earnings per share [Abstract]

Earnings per share

Note 6 — Earnings per share

Earnings per share are calculated in accordance with ASC Topic 260, which specifies the computation, presentation and disclosure requirements for earnings per share (EPS).  It requires the presentation of basic and diluted EPS.  Basic EPS excludes all dilution and is based upon the weighted average number of common shares outstanding during the period.  Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.

For the three and nine months ended September 30, 2013 there was 418,000 and 530,000 respectively, anti-dilutive stock options outstanding.  For the three and nine months ended September 30, 2012, there were 306,000 and 659,000, respectively, anti-dilutive stock options outstanding.

The following is a reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations (in thousands, except per share data):

	For the three months		For the three months
	ended September 30,		ended September 30,
	2013		2012
Income from continuing operations	$	445	$	1,304
Basic:
Shares outstanding at beginning of period		15,401		15,119
Weighted average shares issued during the period, net		4		12
Weighted average common shares, basic		15,405		15,131
Earnings from continuing operations per common share, basic	$	0.03	$	0.09
Diluted:
Weighted average common shares, basic		15,405		15,131
Dilutive impact of stock options and restricted stock awards		41		76
Weighted average common shares, diluted		15,446		15,207
Earnings from continuing operations per common share, diluted	$	0.03	$	0.09

	For the nine months		For the nine months
	ended September 30,		ended September 30,
	2013		2012
Income from continuing operations	$	324	$	1,828
Basic:
Shares outstanding at beginning of period		15,210		15,051
Weighted average shares issued during the period, net		18		54
Weighted average common shares, basic		15,228		15,105
Earnings from continuing operations per common share, basic	$	0.02	$	0.12
Diluted:
Weighted average common shares, basic		15,228		15,105
Dilutive impact of stock options and restricted stock awards		25		74
Weighted average common shares, diluted		15,253		15,179
Earnings from continuing operations per common share, diluted	$	0.02	$	0.12