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Note 12 - Earnings Per Share | 12 Months Ended
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Dec. 31, 2015
Notes to Financial Statements |
Earnings Per Share [Text Block] |
12. | EARNINGS PER SHARE :
Basic earnings per share (“EPS”) were computed by dividing income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversions of potentially dilutive options and restricted shares that were outstanding during the period. The Company’s Class A Common Stock and Class B Common Stock have equal claims on earnings of the Company. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for income from continuing operations (in thousands, except per share amounts):
|  | 2015 |  |  | 2014 |  |  | 2013 |
Numerator- |  |  |  |  |  |  |  |  |  |  |  |
Numerator for basic and diluted earnings per share - |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 66,053 |  |  | $ | 79,957 |  |  | $ | 49,217 |
Denominator- |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share – weighted average shares |  |  | 40,271 |  |  |  | 39,783 |  |  |  | 39,405 |
Effect of dilutive securities- |  |  |  |  |  |  |  |  |  |  |  |
Employee and director stock options and restricted share awards |  |  | 822 |  |  |  | 1,111 |  |  |  | 1,101 |
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions |  |  | 41,093 |  |  |  | 40,894 |  |  |  | 40,506 |
Basic earnings per common share |  | $ | 1.64 |  |  | $ | 2.01 |  |  | $ | 1.25 |
Diluted earnings per common share and common share equivalents |  | $ | 1.61 |  |  | $ | 1.96 |  |  | $ | 1.22 |
Options to purchase shares of common stock that were outstanding for the years ended December 31, 2015, 2014 and 2013 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):
|  | 2015 |  |  | 2014 |  |  | 2013 |
Options |  |  | 1,186 |  |  |  | 482 |  |  |  | 928 |
Total anti-dilutive securities |  |  | 1,186 |  |  |  | 482 |  |  |  | 928 |

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