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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Earnings (loss) per share for the years ended December 31, were as follows:
 
(In thousands, except per share data)
2014
 
2013
 
2012
 
 
 
 
 
 
Net income (loss)
$
29,142

 
$
10,004

 
$
(38,454
)
Weighted average shares outstanding
8,110

 
8,093

 
8,066

Impact of common stock equivalents
6

 
0

 
0

Weighted average shares outstanding (diluted)
8,116

 
8,093

 
8,066

Per share information:
 
 
 
 
 
Basic earnings (loss) per share
$
3.59

 
$
1.24

 
$
(4.77
)
Diluted earnings (loss) per share
3.59

 
1.24

 
(4.77
)

Stock options of 178,000, 207,000 and 274,000 for the years ended December 31, 2014, 2013 and 2012 have been excluded from diluted earnings per share calculations, as their exercise would have been anti-dilutive, as the exercise price exceeded the average market price or the Company was in a net loss for the period. The common stock equivalents in 2014 are related to restricted stock awards.