Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

NOTE F — EARNINGS PER SHARE (in thousands, except EPS)

Basic earnings per share (“EPS”) is computed using the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share is computed using the weighted average number of common shares outstanding during the applicable period, plus the dilutive effect of potential common stock. Potential common stock consists of shares issuable pursuant to stock options and warrants. Calculations of net income per share are done using the treasury stock method.

The following table provides the computation of basic and diluted earnings per share for the three month periods ending March 31, 2014 and 2013.

	Three Months Ended March 31,
(in thousands, except EPS)	2014		2013
Net income	$	102	$	3
Basic weighted average shares outstanding		49,277		46,264
Effect of potentially dilutive securities		4,192		4,659
Diluted weighted average shares outstanding		53,469		50,923
Basic EPS	$	0.00	$	0.00
Diluted EPS	$	0.00	$	0.00

Outstanding options of 311,500 and 5,000 for the three months ended March 31, 2014 and 2013, respectively, were excluded from the calculation of diluted earnings per share due to their anti-dilutive effects.