XML 54 R22.htm IDEA: XBRL DOCUMENT v2.4.1.9
Net Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Net Earnings Per Share
NET EARNINGS PER SHARE
Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding, as well as dilutive potential common shares which, in the Company’s case, comprise of shares issuable under its equity compensation plans described in Note 9 of the consolidated financial statements. The weighted average number of shares and conversions utilized in the calculation of diluted earnings per share does not include potential anti-dilutive common shares aggregating 453,000 and 515,000 at March 31, 2015 and 2014, respectively. The treasury stock method is used to calculate dilutive shares, which reduces the gross number of dilutive shares by the number of shares purchasable from the proceeds of the options assumed to be exercised and the unrecognized expense related to the restricted stock and restricted stock unit awards assumed to have vested.
The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, (in thousands):
 
Three Months Ended 
 March 31,
 
2015
 
2014
Numerator:
 
 
 
Income (loss) from continuing operations
$
5,537

 
$
(2,086
)
Loss from discontinued operations
(28
)
 
—

Net income (loss) available to common shareholders
$
5,509

 
$
(2,086
)
Denominator for basic earnings per share:
 
 
 
Weighted average shares outstanding
31,191

 
31,034

Denominator for diluted earnings per share:
 
 
 
Weighted average shares outstanding
31,191

 
31,034

Common stock options and restricted stock
195

 
—

Weighted average shares and conversions
$
31,386

 
$
31,034



For the three months ended March 31, 2014, all stock options, unvested restricted stock, and unvested restricted stock units were anti-dilutive and, therefore, not included in the dilutive loss per share calculation. The number of weighted average stock options, unvested restricted stock, and unvested restricted stock units that were not included in the dilutive loss per share calculation because the effect would have been anti-dilutive was 209,000 for the three months ended March 31, 2014.