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Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share

7. ASC260 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
September 30		      Nine Months Ended
September 30		  
     2014      2013      2014      2013  

Numerator:

            

Net income attributable to AVD

    $ 732       $ 8,870       $ 3,036       $ 34,171   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted average shares outstanding-basic

      28,466         28,322         28,422         28,295   

Dilutive effect of stock options and grants

      331         567         466         595   
  

 

 

     

 

 

     

 

 

     

 

 

  
     28,797         28,889         28,888         28,890   
  

 

 

     

 

 

     

 

 

     

 

 

  

The Company excluded 1,207 stock options from the computation of diluted earnings per share for the three months ended September 30, 2014 and 6,183 stock options from the computation of diluted earnings per share for the nine months ended September 30, 2014, because they are anti-dilutive. For the three and nine months ended September 30, 2013, no options were excluded from the computation.