XML 53 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 9 - Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Text Block]
9.  
EARNINGS PER SHARE

We have adopted the provisions of FASB’s guidance for determining whether instruments granted in share-based payment transactions are participating securities.  The guidance requires that all outstanding unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (such as restricted stock awards granted by us) be considered participating securities.  Because restricted stock awards are participating securities, we are required to apply the two-class method of computing basic and diluted earnings per share (the “Two-Class Method”).

Basic earnings per share (“EPS”) is determined using the Two-Class Method and is computed by dividing earnings attributable to Ultralife common shareholders by the weighted-average shares outstanding during the period.  The Two-Class Method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings.  Diluted EPS includes the dilutive effect of securities, if any, and reflects the more dilutive EPS amount calculated using the treasury stock method or the Two-Class Method.  For the three-month periods ended March 31, 2013 and April 1, 2012, both the Two-Class Method and the treasury stock method calculations for diluted EPS yielded the same result.

The computation of basic and diluted earnings per share is summarized as follows:

   
Three-Month Period Ended
 
   
March 31,
 2013
   
April 1,
 2012
 
Net Income (Loss) from continuing operations attributable to Ultralife common shareholders (a)
    170       (1,431 )
Effect of Dilutive Securities
    -       -  
Net Income (Loss) from continuing operations attributable to Ultralife common shareholders - Adjusted (b)
  $ 170     $ (1,431 )
                 
Net Income (Loss) from discontinued operations attributable to Ultralife common shareholders (c)
  $ 264     $ (71 )
Effect of Dilutive Securities
    -       -  
Net Income (Loss) from discontinued operations attributable to Ultralife common shareholders - Adjusted (d)
  $ 264     $ (71 )
Average Common Shares Outstanding –
               
Basic (e)
    17,457,000       17,358,000  
Effect of Dilutive Securities:
               
Stock Options / Warrants
    21,000       -  
Average Common Shares Outstanding –
               
Diluted (f)
    17,478,000       17,358,000  
                 
EPS – Basic (a/e) - continuing operations
  $ 0.01     $ (0.08 )
EPS – Basic (c/e) - discontinued operations
  $ 0.02     $ (0.01 )
EPS – Diluted (b/f) - continuing operations
  $ 0.01     $ (0.08 )
EPS – Diluted (d/f) - discontinued operations
  $ 0.02     $ (0.01 )

There were  2,055,606 and 2,337,528 outstanding stock options for the three-month periods ended March 31, 2013 and April 1, 2012, respectively, that were not included in EPS as the effect would be anti-dilutive.