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Computation of Earnings Per Share
 9 Months Ended
Sep. 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 nine month periods ended September 30, 2012 and 2011 was as follows:

 

                                 
    For the three month period ended September 30     For the nine month period ended September 30  
    2012     2011     2012     2011  

Numerator

                                

Amount attributable to PLPC shareholders

                                

Net income attributable to PLPC

   $ 9,284     $ 6,660     $ 24,013     $ 22,044  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator

                                

Determination of shares

                                

Weighted-average common shares outstanding

     5,319       5,253       5,328       5,263  

Dilutive effect - share-based awards

     112       128       104       123  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted weighted-average common shares outstanding

     5,431       5,381       5,432       5,386  
   

 

 

    

 

 

    

 

 

    

 

 

  

Earnings per common share attributable to PLPC shareholders

                                

Basic

   $ 1.75     $ 1.27     $ 4.51     $ 4.19  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

   $ 1.71     $ 1.24     $ 4.42     $ 4.09  
   

 

 

    

 

 

    

 

 

    

 

 

  

For the three and nine month period ended September 30, 2012, 22,500 and 17,750, 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 nine month period ended September 30, 2011, 9,500 and 14,700, 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 nine month periods ended September 30, 2012, zero and 3,496 restricted shares, respectively, were excluded from the calculation of diluted earnings per share due to the average market price being lower than the date of grant fair value plus any unearned compensation on unvested options, and as such they are anti-dilutive. For the three and nine month periods ended September 30, 2011, no restricted shares were excluded from the calculation of diluted earnings per shares for both periods.