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Earnings (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2012
Earnings (Loss) Per Common Share [Abstract]  
Earnings (Loss) Per Common Share
(23) Earnings (Loss) Per Common Share

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

Our potentially dilutive securities include potential common shares related to our stock options and restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted earnings per share excludes the impact of common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. There were 532,000 and 652,000 potential common shares excluded from diluted earnings per share for the years ended December 31, 2012 and 2011, respectively, because the effect of inclusion would be anti-dilutive.

 

A reconciliation of the weighted average shares outstanding used in the calculation of basic and diluted earnings (loss) per common share is as follows (in thousands):

 

                 
    Year ended
December 31,		  
    2012     2011  

Earnings attributable to stockholders:

                

Income from continuing operations as reported.

   $ 10,267     $ 8,435  

Less distributed and undistributed earnings allocable to restricted award holders

     (429 )      (399 ) 

Less dividends declared attributable to restricted award holders

     (64 )      0  
   

 

 

    

 

 

  
     

Net income from continuing operations allocable to common stockholders

     9,774       8,036  

Loss from discontinued operations, net of tax allocable to common stockholders

     (7,220 )      (528 ) 
   

 

 

    

 

 

  
     

Net income allocable to common stockholders

   $ 2,554     $ 7,508  
   

 

 

    

 

 

  
     

Basic earnings (loss) per common share attributable to stockholders:

                

Continuing operations.

   $ 0.51     $ 0.43  

Discontinued operations

     (0.38 )      (0.03 ) 
   

 

 

    

 

 

  
     

Net income

   $ 0.13     $ 0.40  
   

 

 

    

 

 

  

Diluted earnings (loss) per common share attributable to stockholders:

                

Continuing operations.

   $ 0.50     $ 0.43  

Discontinued operations

     (0.37 )      (0.03 ) 
   

 

 

    

 

 

  
     

Net income

   $ 0.13     $ 0.40  
   

 

 

    

 

 

  
     

Weighted average shares outstanding – basic.

     19,050       18,823  

Weighted average additional shares assuming conversion of potential common shares

     365       185  
   

 

 

    

 

 

  
     

Weighted average shares outstanding – diluted.

     19,415       19,008