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Computation of Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Computation of Earnings Per Share [Abstract]  
COMPUTATION OF EARNINGS PER SHARE

NOTE E – COMPUTATION OF EARNINGS PER SHARE

Basic earnings per share were computed by dividing Net income by the weighted-average number of common shares outstanding for each respective period. Diluted earnings per share were calculated by dividing Net income 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 month periods ended March 31, 2013 and 2012 was as follows:

 

                 
    For the three month period ended March 31  
    2013     2012  

Numerator

                

Net income

   $ 4,965     $ 8,133  
   

 

 

    

 

 

  

Denominator

                

Determination of shares

                

Weighted-average common shares outstanding

     5,377       5,334  

Dilutive effect—share-based awards

     80       104  
   

 

 

    

 

 

  

Diluted weighted-average common shares outstanding

     5,457       5,438  
   

 

 

    

 

 

  

Earnings per common share attributable to PLPC shareholders

                

Basic

   $ 0.92     $ 1.52  
   

 

 

    

 

 

  

Diluted

   $ 0.91     $ 1.50  
   

 

 

    

 

 

  

For the three month periods ended March 31, 2013 and 2012, 0 and 14,500 stock options, respectively, were excluded from the calculation of diluted earnings per shares as they were anti-dilutive because the average market price was lower than the exercise price plus any unearned compensation on unvested options. For the three month periods ended March 31, 2013 and 2012, 2,058 and 1,311 restricted shares, respectively, were excluded from the calculation of diluted earnings per shares as they were anti-dilutive because the average market price was lower than the exercise price plus any unearned compensation on unvested options.