Income Per Common Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

(6) Income Per Common Share

Basic earnings per common share is computed by dividing the income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Restricted stock units (nonvested shares) are not considered to be outstanding shares until the vesting criteria (service and/or performance) have been satisfied.

For purposes of calculating diluted earnings per common share, the denominator includes both the weighted-average number of shares of common stock outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and nonvested shares using the treasury stock method and shares issuable under the employee stock purchase plan (ESPP). Income per common share information is as follows (in thousands, except per share amounts):

	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016		2015
Income Per Common Share – Basic:
Net income	$	1,035	$	3,782	$	2,552	$	10,954
Weighted-average common shares outstanding		44,120		44,182		44,168		44,182
Basic income per share	$	0.02	$	0.09	$	0.06	$	0.25
Income Per Common Share – Diluted:
Net income	$	1,035	$	3,782	$	2,552	$	10,954
Weighted-average common shares outstanding		44,120		44,182		44,167		44,182
Weighted-average incremental shares related to vesting of nonvested shares		-		33		-		46
Weighted-average common shares outstanding and common share equivalents		44,120		44,215		44,167		44,228
Diluted income per share	$	0.02	$	0.09	$	0.06	$	0.25

As of June 30, 2016, there are no shares issuable, which could potentially dilute basic EPS in the future for vesting of nonvested shares.