v2.4.0.8
Net Income and Dividends per Share
 6 Months Ended
Jun. 30, 2013
Net Income and Dividends per Share [Abstract]  
Net Income and Dividends per Share
7. Net Income and Dividends per Share

The following table presents a reconciliation of basic and diluted income per share computations (in thousands, except per share data and anti-dilutive stock option counts):

 
 
 
Six months ended           June 30,
Three months ended          June 30,
 
 
2013
 
 
2012
 
 
2013
 
 
2012
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
   Net income
 
$
             33
 
 $
          6,292
 
$
        8,092
 
 $
       14,198
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
   Weighted-average shares outstanding
 
 
      16,683
 
 
        17,215
 
 
      16,727
 
 
       17,217
     Effect of unvested restricted stock awards
     considered participating securities
           297
 
 
             385
 
 
           233
 
 
            385
   Weighted-average shares outstanding – basic
 
      16,980
 
 
        17,600
 
 
      16,960
 
 
       17,602
     Effect of dilutive common stock options
 
 
              -
 
 
               -
 
 
              -
 
 
               -
   Weighted-average shares outstanding – diluted
      16,980
 
 
        17,600
 
 
      16,960
 
 
       17,602
 
 
 
 
 
 
 
 
 
 
 
 
 
   Net income per share – basic
 
$
          0.00
 
$
            0.36
 
$
          0.48
 
 $
           0.81
 
 
 
 
 
 
 
 
 
 
 
 
 
   Net income per share – diluted
 
$
          0.00
 
$
            0.36
 
$
          0.48
 
$
           0.81
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash dividends declared per share1
 
$
          0.06
 
$
            0.12
 
$
              -
 
 $
           0.06
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive
 1,635,000
 
 
   1,403,000
 
 
 1,395,000
 
 
  1,253,000
 
1The Company suspended quarterly dividend payments during the three months ended June 30, 2013.