Earnings Per Common Share

9 Months Ended

Sep. 30, 2014

Earnings Per 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 September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$	1,130,388	$	704,898	$	3,091,906	$	1,628,960
(Loss) from discontinued operations, net of income tax (benefit)		(50,287)		(55,947)		(520,904)		(245,869)
Net income for basic calculation	$	1,080,101	$	648,951	$	2,571,002	$	1,383,091
Numerator for diluted per share calculation:
Income from continuing operations	$	1,130,388	$	704,898	$	3,091,906	$	1,628,960
Adjustments to income from continuing operations for the statement of operations impact of dilutive securities		—		(82,948)		—		—
Income from continuing operations for dilution calculation		1,130,388		621,950		3,091,906		1,628,960
(Loss) from discontinued operations, net of income tax (benefit)		(50,287)		(55,947)		(520,904)		(245,869)
Net income for dilution calculation	$	1,080,101	$	566,003	$	2,571,002	$	1,383,091
Denominator:
Weighted average common shares – basic		11,119,165		10,907,579		11,067,030		10,876,279
Effect of dilutive securities:
RSUs		169,949		238,391		160,817		241,632
Stock options		364,154		299,356		328,486		264,863
Weighted average common shares – diluted		11,653,268		11,445,326		11,556,333		11,382,774
Per common share amounts – basic:
Income from continuing operations	$	0.10	$	0.06	$	0.28	$	0.15
(Loss) from discontinued operations		—		—		(0.05)		(0.02)
Net income	$	0.10	$	0.06	$	0.23	$	0.13
Per common share amounts – diluted:
Income from continuing operations	$	0.10	$	0.05	$	0.27	$	0.14
(Loss) from discontinued operations		(0.01)		—		(0.05)		(0.02)
Net income	$	0.09	$	0.05	$	0.22	$	0.12

Potentially dilutive securities include all stock based awards. For the three months ended September 30, 2014 and for the nine months ended September 30, 2014 and 2013, certain equity awards and option awards accounted for under the liability method, were antidilutive.