EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic and Diluted Earnings Per Share

Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not include any potentially dilutive securities or any unvested restricted shares of common stock. These unvested restricted shares, although classified as issued and outstanding at March 31, 2015 and 2014, are considered contingently returnable until the restrictions lapse and will not be included in the basic earnings per share calculation until the shares are vested. Unvested shares of our restricted stock do not contain nonforfeitable rights to dividends and dividend equivalents.

Diluted earnings per share includes the effect of all potentially dilutive securities on earnings per share. Our unvested restricted shares, restricted stock units and stock options are potentially dilutive securities. The difference between basic and diluted weighted-average shares outstanding was the dilutive effect of unvested restricted shares, restricted stock units and stock options for the three months ended March 31, 2015 and 2014.

The following table represents a reconciliation of the basic and diluted earnings per share from continuing operations, or EPS, computations contained in our condensed consolidated financial statements (in thousands, except per share data):

	Three Months Ended March 31,
	2015		2014
Net income from continuing operations	$	1,387	$	5,270
Weighted-average shares outstanding - basic and diluted:
Weighted-average shares outstanding - basic	44,923		46,385
Add effect of dilutive securities:
Unvested restricted stock	567		618
Stock options	—		17
Weighted-average shares outstanding - diluted	45,490		47,020
Basic net income per share from continuing operations	$	0.03	$	0.11
Diluted net income per share from continuing operations	$	0.03	$	0.11

The weighted-average diluted common shares outstanding for the three months ended March 31, 2015 and 2014 excludes the effect of 802,924 and 26,579 restricted stock and out-of-the-money options, respectively, because their effect would be anti-dilutive.