Earnings Per Share

6 Months Ended

Jun. 30, 2015

7. 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, consist 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
	2015		2014		2015		2014
Numerator:
Net income attributable to AVD	$	781	$	145	$	832	$	2,304

Denominator:
Weighted averages shares outstanding-basic		28,676		28,408		28,602		28,404
Dilutive effect of stock options and grants		526		387		501		473

		29,202		28,795		29,103		28,877

For the three months and six months ended June 30, 2015, no stock options were excluded from the computation of diluted earnings per share. 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 were anti-dilutive.