Earnings Per Common Share

6 Months Ended

Jun. 30, 2015

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 June 30,				For the Six Months Ended June 30,
	2015		2014		2015		2014
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$	2,928,125	$	914,538	$	4,221,495	$	1,961,518
Income (loss) from discontinued operations, net of income tax expense (benefit)		1,138,434		(92,739)		1,067,080		(470,617)
Net income for basic calculation	$	4,066,559	$	821,799	$	5,288,575	$	1,490,901
Numerator for diluted per share calculation:
Income from continuing operations	$	2,928,125	$	914,538	$	4,221,495	$	1,961,518
Adjustments to income from continuing operations for the statement of operations impact of dilutive securities		—		—		—		—
Income from continuing operations for dilution calculation		2,928,125		914,538		4,221,495		1,961,518
Income (loss) from discontinued operations, net of income tax expense (benefit)		1,138,434		(92,739)		1,067,080		(470,617)
Net income for dilution calculation	$	4,066,559	$	821,799	$	5,288,575	$	1,490,901
Denominator:
Weighted average common shares – basic		11,228,905		11,101,665		11,209,900		11,040,530
Effect of dilutive securities:
RSUs		125,413		124,134		134,028		163,397
Stock options		335,565		305,231		340,929		305,562
Weighted average common shares – diluted		11,689,883		11,531,030		11,684,857		11,509,489
Per common share amounts – basic:
Income from continuing operations	$	0.26	$	0.08	$	0.38	$	0.18
Income (loss) from discontinued operations		0.10		(0.01)		0.09		(0.04)
Net income	$	0.36	$	0.07	$	0.47	$	0.14
Per common share amounts – diluted:
Income from continuing operations	$	0.25	$	0.08	$	0.36	$	0.17
Income (loss) from discontinued operations		0.10		(0.01)		0.09		(0.04)
Net income	$	0.35	$	0.07	$	0.45	$	0.13

Potentially dilutive securities include all stock based awards. For the three and six months ended June 30, 2015, only certain equity awards were antidilutive. For the three and six months ended June 30, 2014, certain equity and option awards accounted for under the liability method were antidilutive.