Earnings Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Common Share [Abstract]

Earnings Per Common Share

10.   Earnings Per Common Share

Basic earnings per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per common share is based upon the increased number of common shares that would be outstanding assuming the exercise of dilutive common share options and the consideration of restricted stock awards. The following table details the computation of earnings per common share, basic and diluted:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2013		2012		2013		2012
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$	521,996	$	498,032	$	924,062	$	634,411
(Loss) income from discontinued operations, net of income tax expense		(38,290)		1,695,203		(189,922)		(12,650,052)
Net income (loss) for basic calculation	$	483,706	$	2,193,235	$	734,140	$	(12,015,641)
Numerator for diluted per share calculation:
Income from continuing operations	$	521,996	$	498,032	$	924,062	$	634,411
Adjustments to income from continuing operations for the statement of operations impact of dilutive securities		—		—		—		—
Income from continuing operations for dilution calculation		521,996		498,032		924,062		634,411
(Loss) income from discontinued operations, net of income tax expense		(38,290)		1,695,203		(189,922)		(12,650,052)
Net income (loss) for dilution calculation	$	483,706	$	2,193,235	$	734,140	$	(12,015,641)
Denominator:
Weighted average common shares – basic		10,891,993		10,686,469		10,860,370		10,655,022
Effect of dilutive securities:
RSUs		231,663		255,493		255,835		297,181
Stock options		274,438		8,455		252,677		11,623
Weighted average common shares – diluted		11,398,094		10,950,417		11,368,882		10,963,826
Per common share amounts – basic:
Income from continuing operations	$	0.05	$	0.05	$	0.09	$	0.06
(Loss) income from discontinued operations		(0.01)		0.16		(0.02)		(1.19)
Net income (loss)	$	0.04	$	0.21	$	0.07	$	(1.13)
Per common share amounts – diluted:
Income from continuing operations	$	0.05	$	0.05	$	0.08	$	0.06
(Loss) income from discontinued operations		(0.01)		0.15		(0.02)		(1.16)
Net income (loss)	$	0.04	$	0.20	$	0.06	$	(1.10)

Potentially dilutive securities include all stock based awards. For the three months ended June 30, 2013, only option awards accounted for under the liability method were antidilutive. For the six months ended June 30, 2013 and the three and six months ended June 30, 2012, certain equity awards and option awards accounted for under the liability method, were antidilutive.