Earnings Per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

10. EARNINGS PER COMMON SHARE

The following table presents the Company’s basic and diluted earnings per share computations:

	For the three months ended September 30,				For the nine months ended September 30,
(In thousands, except per share amounts)	2012		2011		2012		2011
Net income from continuing operations before noncontrolling interests	$	838	$	7,295	$	4,888	$	13,631
Less: Income attributable to noncontrolling interests		179		178		585		814
Net income from continuing operations attributable to Michael Baker Corporation		659		7,117		4,303		12,817
Net income from discontinued operations, net of tax		322		116		822		101
Net income attributable to Michael Baker Corporation	$	981	$	7,233	$	5,125	$	12,918
	For the three months ended September 30,				For the nine months ended September 30,
(In thousands, except per share amounts)	2012		2011		2012		2011
Basic:
Weighted average shares outstanding		9,390		9,324		9,375		9,284
Earnings per share:
Continuing operations	$	0.07	$	0.76	$	0.46	$	1.38
Discontinued operations		0.04		0.01		0.09		0.01
Total	$	0.11	$	0.77	$	0.55	$	1.39
Diluted:
Effect of dilutive securities - contingently issuable shares and stock options		256		10		240		22
Weighted average shares outstanding		9,646		9,334		9,615		9,306
Earnings per share:
Continuing operations	$	0.07	$	0.76	$	0.45	$	1.38
Discontinued operations		0.03		0.01		0.08		0.01
Total	$	0.10	$	0.77	$	0.53	$	1.39

Company stock options totaling 72,000 for both the three and nine months ended September 30, 2012 and Company stock options totaling 72,000 and 56,000 for the three and nine months ended September 30, 2011, respectively, were excluded from the computations of diluted shares outstanding because the option exercise prices were more than the average market price of the Company’s common shares.