XML 64 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Share-based awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and included in the computation of both basic and diluted earnings per share. Our grants of restricted stock awards to our employees and directors are considered participating securities and we have prepared our earnings per share calculations to exclude outstanding unvested restricted stock awards, using the two-class method, in the basic and diluted weighted average shares outstanding calculation.
The following table sets forth the computation of the basic and diluted earnings per share for the three months ended March 31, 2014 and 2015:
 
For the Three Months Ended March 31,
 
2014
 
2015
Numerator for basic and diluted earnings per share:
 
 
 
Numerator from continuing operations
 
 
 
Income from continuing operations
$
1,631

 
$
6,418

Less: Earnings allocated to unvested restricted stock
(37
)
 
(100
)
Income attributable to continuing operations
$
1,594

 
$
6,318

 
 
 
 
Numerator from discontinued operations
 
 
 
Income from discontinued operations
$
587

 
$
—

Less: Earnings allocated to unvested restricted stock
(13
)
 
—

Income attributable to discontinued operations
$
574

 
$
—

 
 
 
 
 
 
 
 
Denominator
 
 
 
Denominator for basic earnings per common share - weighted average shares outstanding
17,984

 
18,208

Effect of dilutive securities:
 
 
 
Stock options
159

 
248

Convertible subordinated notes
—

 
348

Denominator for diluted earnings per common share - weighted average shares outstanding
18,143

 
18,804

 
 
 
 
Basic earnings per common share:
 
 
 
Continuing operations
$
0.09

 
$
0.35

Discontinued operations
0.03

 
—

Basic earnings per common share
$
0.12

 
$
0.35

 
 
 
 
Diluted earnings per common share:
 
 
 
Continuing operations
$
0.09

 
$
0.34

Discontinued operations
0.03

 
—

Diluted earnings per common share
$
0.12

 
$
0.34


The fully diluted weighted average shares outstanding for the three months ended March 31, 2015, and the corresponding calculation of fully diluted earnings per share, include approximately 0.3 million shares that would have been issued upon the conversion of our convertible subordinated notes as a result of the application of the if-converted method prescribed by the FASB ASC 260.
For the three months ended March 31, 2015, 25,000 options were excluded from the computation of diluted earnings per share because the inclusion of such options would result in an antidilutive effect. There were no options excluded from the computation of diluted earnings per share for the three months ended March 31, 2014.