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Earnings per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

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 September 30,

 

Nine Months Ended September 30,



 

2016

 

2015

 

2016

 

2015

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

 6,065 

 

$

 5,402 

 

$

 13,722 

 

$

 15,665 

Income from discontinued operations

 

 

 -

 

 

 104 

 

 

 -

 

 

 533 

Net income

 

$

 6,065 

 

$

 5,506 

 

$

 13,722 

 

$

 16,198 



 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

 11,848 

 

 

 11,923 

 

 

 11,839 

 

 

 12,028 

Effect of dilutive common stock equivalents

 

 

 100 

 

 

 97 

 

 

 86 

 

 

 94 



 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

 11,948 

 

 

 12,020 

 

 

 11,925 

 

 

 12,122 



 

 

 

 

 

 

 

 

 

 

 

 

EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations

 

$

 0.51 

 

$

 0.45 

 

$

 1.16 

 

$

 1.30 

Earnings per share from discontinued operations

 

$

 -

 

$

 0.01 

 

$

 -

 

$

 0.05 

Earnings per share

 

$

 0.51 

 

$

 0.46 

 

$

 1.16 

 

$

 1.35 



 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations

 

$

 0.51 

 

$

 0.45 

 

$

 1.15 

 

$

 1.29 

Earnings per share from discontinued operations

 

$

 -

 

$

 0.01 

 

$

 -

 

$

 0.05 

Earnings per share

 

$

 0.51 

 

$

 0.46 

 

$

 1.15 

 

$

 1.34 



The calculation of diluted earnings per share excluded 10,000 and 69,375 antidilutive options outstanding for the three months ended September 30, 2016 and 2015, respectively, and 87,500 and 74,373 antidilutive options outstanding for the nine months ended September 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.