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Income Per Share
 9 Months Ended
Sep. 30, 2013
Income Per Share [Abstract]  
Income Per Share

11.  Income Per Share 

 

The following table presents a reconciliation between basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30, 2013

 

 

September 30, 2012

 

 

September 30, 2013

 

 

September 30, 2012

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before  discontinued operations

$
(432)

 

$
426 

 

$
(2,425)

 

$
1,271 

Loss from discontinued operations, net of income taxes (note 4)

 
(393)

 

$
(209)

 

 
(2,314)

 

 
(894)

Net income (loss)

$
(825)

 

$
217 

 

$
(4,739)

 

$
377 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Basic – weighted shares outstanding

 
5,702 

 

 
5,674 

 

 
5,694 

 

 
5,666 

Weighted shares assumed upon exercise of stock options

 

 -

 

 
180 

 

 

 -

 

 
244 

Diluted – weighted shares outstanding

 
5,702 

 

 
5,854 

 

 
5,694 

 

 
5,910 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
(0.08)

 

$
0.08 

 

$
(0.43)

 

$
0.22 

Discontinued operations

 
(0.07)

 

 
(0.04)

 

 
(0.41)

 

 
(0.16)

  Net income (loss) per share:

$
(0.14)

 

$
0.04 

 

$
(0.83)

 

$
0.07 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
(0.08)

 

$
0.07 

 

$
(0.43)

 

$
0.22 

Discontinued operations

 
(0.07)

 

 
(0.04)

 

 
(0.41)

 

 
(0.15)

  Net income (loss) per share:

$
(0.14)

 

$
0.04 

 

$
(0.83)

 

$
0.06 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The dilutive impact summarized above relates to the periods when the average market price of Company stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share was based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock method when computing the diluted earnings per share. Individual components of basic and diluted income (loss) per share may not sum to the total income (loss) per share due to rounding.

 

Excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2013 were all options outstanding of approximately 1,421 common shares, due to the Company’s net loss in the periods. Excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2012 were outstanding options to purchase approximately 487 and 333 common shares, respectively, because the effect was anti-dilutive.