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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2016
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 5-EARNINGS PER SHARE

 

Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method.

 

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30, 

 

September 30, 

 

 

    

2016

    

2015

    

2016

    

2015

 

 

 

(in thousands)

 

(in thousands)

 

Net income

 

$
614

 

$
458

 

$
1,969

 

$
1,213

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average outstanding shares of common stock

 

 
7,327

 

 
7,325

 

 
7,327

 

 
7,324

 

Dilutive potential common shares from stock options and restricted stock units

 

 
83

 

 
6

 

 
79

 

 
6

 

Common stock and common stock equivalents

 

 
7,410

 

 
7,331

 

 
7,406

 

 
7,330

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share, basic and diluted

 

$
0.08

 

$
0.06

 

$
0.27

 

$
0.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares subject to anti-dilutive stock options and restricted stock-based awards excluded from calculation

 

 
93

 

 
175

 

 
98

 

 
175