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Computation of Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Computation of Earnings Per Share [Abstract]  
COMPUTATION OF EARNINGS PER SHARE

NOTE D – COMPUTATION OF EARNINGS PER SHARE

Basic earnings per share were computed by dividing net income attributable to PLPC common shareholders by the weighted-average number of common stock outstanding for each respective period. Diluted earnings per share were calculated by dividing net income attributable to PLPC common shareholders by the weighted-average of all potentially dilutive common stock that were outstanding during the periods presented.

 

The calculation of basic and diluted earnings per share for the three and six month periods ended June 30, 2012 and 2011 were as follows:

 

                                 
    For the three month period ended June 30     For the six month period ended June 30  
    2012     2011     2012     2011  

Numerator

                                

Amount attributable to PLPC shareholders

                                

Net income attributable to PLPC

   $ 6,596     $ 8,386     $ 14,729     $ 15,384  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator

                                

Determination of shares

                                

Weighted-average common shares outstanding

     5,332       5,263       5,333       5,268  

Dilutive effect - share-based awards

     109       130       107       122  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted weighted-average common shares outstanding

     5,441       5,393       5,440       5,390  
   

 

 

    

 

 

    

 

 

    

 

 

  

Earnings per common share attributable to PLPC shareholders

                                

Basic

   $ 1.24     $ 1.59     $ 2.76     $ 2.92  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

   $ 1.21     $ 1.55     $ 2.71     $ 2.85  
   

 

 

    

 

 

    

 

 

    

 

 

  

For the three and six month period ended June 30, 2012, 25,750 and 22,750, stock options, respectively, were excluded from the calculation of diluted earnings per share due to the average market price being lower than the exercise price plus any unearned compensation on unvested options, and as such they are anti-dilutive. For the three and six month period ended June 30, 2011, 0 and 9,500, stock options, respectively, were excluded from the calculation of diluted earnings per share due to the average market price being lower than the exercise price plus any unearned compensation on unvested options, and as such they are anti-dilutive.

For the three and six month periods ended June 30, 2012, 4,588 and 0 restricted shares, respectively, were excluded from the calculation of diluted earnings per share due to the average market price being lower than the exercise price plus any unearned compensation on unvested options, and as such they are anti-dilutive. For the three and six month periods ended June 30, 2011, no restricted shares were excluded from the calculation of diluted earnings per shares for both periods.