Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2014

The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except shares and per share data):

Continuing Operations***
	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2014			2013		2014			2013
Net income attributable to common stockholders***	$	(2,068	)	$	1,116	$	(330	)	$	3,967
Weighted average basic shares		8,180,970			8,004,026		8,137,133			7,985,318
Dilutive effect of preferred stock, warrants, stock options and restricted stock units *		-			1,493,030	-				1,465,401
Total weighted average diluted shares		8,180,970			9,497,056		8,137,133			9,450,719
Earnings per common share:
Basic	$	(0.25	)	$	0.14	$	(0.04	)	$	0.50
Dilutive **	$	(0.25	)	$	0.13	$	(0.04	)	$	0.45



With Discontinued Operations
	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2014			2013		2014			2013
Net income attributable to common stockholders	$	(2,089	)	$	901	$	(3,003	)	$	3,617
Weighted average basic shares		8,180,970			8,004,026		8,137,133			7,985,318
Dilutive effect of preferred stock, warrants, stock options and restricted stock units *	-				1,493,030	-				1,465,401
Total weighted average diluted shares		8,180,970			9,497,056		8,137,133			9,450,719
Earnings per common share:
Basic	$	(0.26	)	$	0.11	$	(0.37	)	$	0.45
Dilutive **	$	(0.26	)	$	0.10	$	(0.37	)	$	0.41

* No shares are dilutive when losses are reported.

** When preferred shares are assumed converted, their dividends are added back to net income.

***Net income (loss) from continuing operations less dividends on redeemable convertible preferred stock.