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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share

7. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 260 Earnings Per Share (“EPS”) requires dual presentation of basic EPS and diluted EPS on the face of our condensed consolidated statements of operations and comprehensive income. Basic EPS is computed as net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects potential dilution that could occur if securities or other contracts, which, for the Company, consists of options to purchase shares of the Company’s common stock, are exercised.

The components of basic and diluted earnings per share were as follows:

 

     Three Months Ended
June 30		      Six Months Ended
June 30		  
     2014      2013      2014      2013  

Numerator:

            

Net income attributable to AVD

    $ 145       $ 8,386       $ 2,304       $ 25,301   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted averages shares outstanding-basic

      28,408         28,295         28,404         28,280   

Dilutive effect of stock options and grants

      387         591         473         604   
  

 

 

     

 

 

     

 

 

     

 

 

  
     28,795         28,886         28,877         28,884   
  

 

 

     

 

 

     

 

 

     

 

 

  

The Company excluded 2,385 stock options from the computation of diluted earnings per share for the three months ended June 30, 2014 and 4,591 stock options from the computation of diluted earnings per share for the six months ended June 30, 2014, because they are anti-dilutive. For the three and six month ended June 30, 2013 no options were excluded from the computation.