v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 5 – EARNINGS PER SHARE

Net earnings (loss) per common and common equivalent share are computed using the weighted average number of shares of common stock and common stock equivalents outstanding during each period. If dilutive, the effect of stock options, treated as common stock equivalents, is calculated using the treasury stock method.

The following table sets forth the computation of basic and diluted net earnings (loss) per share:

 

                 
    Quarters Ended  

In Thousands

   March 31,
2013		     March 31,
2012		  

Numerator:

                

Net income (loss)

   $ 6,395     $ 6,694  
   

 

 

    

 

 

  

Denominator:

                

Denominator for basic earnings per share – weighted average shares

     20,664       23,427  

Effect of dilutive securities:

                

Employee stock options

     69       50  
   

 

 

    

 

 

  

Denominator for diluted earnings per share – weighted average shares

     20,733       23,477  
   

 

 

    

 

 

  

The number of weighted average employee stock options excluded from the determination of diluted earnings per share for the first quarter was 191,000 in 2013 and 139,000 in 2012. Such options were anti-dilutive for the respective periods.