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COMPUTATION OF EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 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 was outstanding during the periods presented.

The calculation of basic and diluted earnings per share for the three and six month periods ended June 30, 2014 and 2013 was as follows:

 

     Three month period ended June 30      Six month period ended June 30  
     2014      2013      2014      2013  

Numerator

            

Net income

    $ 5,080       $ 6,386       $ 7,818       $ 11,351   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator

            

Determination of shares

            

Weighted-average common shares outstanding

      5,389         5,368         5,390         5,372   

Dilutive effect - share-based awards

      4         82         40         78   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted-average common shares outstanding

      5,393         5,450         5,430         5,450   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share attributable to PLPC shareholders

            

Basic

    $ 0.94       $ 1.19       $ 1.45       $ 2.11   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.94       $ 1.17       $ 1.44       $ 2.08   
  

 

 

     

 

 

     

 

 

     

 

 

  

For the three and six month periods ended June 30, 2014, 23,500 and 18,500 stock options, respectively, were excluded from the calculation of diluted earnings per shares as the effect would have been anti-dilutive. For the three and six month periods ended June 30, 2013, no stock options were excluded from the calculation of diluted earnings per shares as there were no stock options where the effect of the exercise would have been anti-dilutive.

 

For the three and six month periods ended June 30, 2014, 59,739 and 12,066 restricted shares, respectively, were excluded from the calculation of diluted earnings per shares as the effect of the exercise would have been anti-dilutive. For the three and six month periods ended June 30, 2013, 5,614 and 3,846 restricted shares, respectively, were excluded from the calculation of diluted earnings per shares as the effect of the exercise would have been anti-dilutive.