Earnings per Share

6 Months Ended

Jun. 30, 2016

6.	Earnings per Share

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of common stock outstanding adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted EPS:

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Numerator:
Income from continuing operations	$	3,397	$	5,847	$	7,657	$	10,263
Income from discontinued operations		-		401		-		429
Net income	$	3,397	$	6,248	$	7,657	$	10,692

Denominator:
Weighted average shares of common stock outstanding		11,811		12,069		11,817		12,085
Effect of dilutive common stock equivalents		73		90		74		91

Weighted average shares of common stock outstanding		11,884		12,159		11,891		12,176

EPS:
Basic earnings per share
Earnings per share from continuing operations	$	0.29	$	0.48	$	0.65	$	0.85
Earnings per share from discontinued operations	$	-	$	0.03	$	-	$	0.03
Earnings per share	$	0.29	$	0.51	$	0.65	$	0.88

Diluted earnings per share
Earnings per share from continuing operations	$	0.29	$	0.48	$	0.64	$	0.84
Earnings per share from discontinued operations	$	-	$	0.03	$	-	$	0.04
Earnings per share	$	0.29	$	0.51	$	0.64	$	0.88

The calculation of diluted earnings per share excluded 87,986 and 54,375 antidilutive options outstanding for the three months ended June 30, 2016 and 2015, respectively, and 98,000 and 54,375 antidilutive options outstanding for the six months ended June 30, 2016 and 2015, respectively. EPS is computed independently for each of the quarters presented; accordingly, the sum of the quarterly earnings per common share may not equal the year-to-date total computed.