Earnings Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share

10. EARNINGS PER COMMON SHARE

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations:

	For the three months ended					For the six months ended
(In thousands, except per share amounts)	June 30, 2013		July 1, 2012			June 30, 2013		July 1, 2012
Net income from continuing operations before noncontrolling interests	$	5,107	$	2,907		$	10,824	$	4,049
Less: Net income attributable to noncontrolling interests		347		223			531		406
Net income from continuing operations attributable to Michael Baker Corporation		4,760		2,684			10,293		3,643
Net (loss)/income from discontinued operations, net of tax		—		(236	)		—		501
Net income attributable to Michael Baker Corporation	$	4,760	$	2,448		$	10,293	$	4,144
Basic:
Weighted average shares outstanding		9,545		9,373			9,535		9,368
Earnings per share:
Continuing operations	$	0.50	$	0.29		$	1.08	$	0.39
Discontinued operations		—		(0.03	)		—		0.05
Total	$	0.50	$	0.26		$	1.08	$	0.44
Diluted:
Effect of dilutive securities - contingently issuable shares and stock options		130		250			136		231
Weighted average shares outstanding		9,675		9,623			9,671		9,599
Earnings per share:
Continuing operations	$	0.49	$	0.28		$	1.06	$	0.38
Discontinued operations		—		(0.03	)		—		0.05
Total	$	0.49	$	0.25		$	1.06	$	0.43

Company stock options totaling 53,890 and 54,939 for the three and six months ended June 30, 2013, respectively, and Company stock options totaling 72,000 for both the three and six months ended July 1, 2012, 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.