Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2014

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

Note 5 – Earnings (Loss) Per Share

Basic earnings (loss) per share from continuing operations, discontinued operations and from net income (loss) per common share are computed by dividing income (loss) from continuing operations, income from discontinued operations and net income (loss), respectively, by the weighted average shares outstanding for the period. Diluted earnings (loss) per share from continuing operations, discontinued operations and from net income (loss) per common share are computed by dividing income (loss) from continuing operations, income from discontinued operations and net income (loss), respectively, by the weighted average number of common shares, including common stock equivalent shares (stock options and stock-settled stock appreciation rights) outstanding for the period.  Certain share-based payment awards which entitle holders to receive non-forfeitable dividends before vesting are considered participating securities and are included in the calculation of basic earnings (loss) per share. There were no reconciling items to net income to arrive at income (loss) available to common stockholders.

As described in Note 2 - Pending Merger, in connection with the Company's entry into a definitive merger agreement on March 16, 2014, all outstanding stock options and stock-settled stock appreciation rights were cancelled in exchange for cash. As a result, there is no effect on earnings per share from dilutive and anti-dilutive stock options for the three-month period ended March 31, 2014.

The following table details the computation of basic and diluted earnings (loss) per common share:
 

	Three Months Ended March 31,
	2014			2013
Income (loss) from continuing operations	$	(2,733	)	$	1,322
Income from  discontinued operations		--			133
Net income (loss)	$	(2,733	)	$	1,455
Weighted average shares – Basic		26,350			26,154
Effect of dilutive stock options		--			70
Adjusted weighted average shares and assumed conversions - Diluted		26,350			26,224

	Three Months Ended
	March 31,
	2014			2013
Basic:
Income (loss) from continuing operations	$	(0.10	)		0.05
Income from discontinued operations		--			0.01
Net income (loss) per common share	$	(0.10	)		0.06
Diluted:
Income (loss) from continuing operations	$	(0.10	)		0.05
Income from discontinued operations		--			0.01
Net income (loss) per common share	$	(0.10	)		0.06

The following table presents the potentially dilutive outstanding stock options excluded from the computation of diluted earnings per share for each period because they would be anti-dilutive:

	Three Months Ended March 31,
	2014		2013
Anti-dilutive options		--		1,550
Exercise price range	$	--	$	11.71-21.08