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COMPUTATION OF EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2014
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, 2014 and 2013 was as follows:

 

     For the three month period ended March 31  
     2014      2013  

Numerator

      

Net income

    $ 2,738       $ 4,965   
  

 

 

     

 

 

  

Denominator

      

Determination of shares

      

Weighted-average common shares outstanding

      5,392         5,377   

Dilutive effect - share-based awards

      39         80   
  

 

 

     

 

 

  

Diluted weighted-average common shares outstanding

      5,431         5,457   
  

 

 

     

 

 

  

Earnings per common share attributable to PLPC shareholders

      

Basic

    $ 0.51       $ 0.92   
  

 

 

     

 

 

  

Diluted

    $ 0.50       $ 0.91   
  

 

 

     

 

 

  

For the three month periods ended March 31, 2014 and 2013, 17,000 and 0 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, 2014 and 2013, 55,312 and 2,058 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.