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Note 9 - Earnings Per Share
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Earnings Per Share [Text Block]
9.
    Earnings Per Share
 
The following table details the computation of basic and diluted earnings per share:
 
 
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
 
2017
 
 
2016
 
 
2017
 
 
2016
 
Numerator:
                               
Net income (loss) attributable to Providence
  $
3,915
    $
4,623
    $
(411
)   $
6,858
 
Less dividends on convertible preferred stock
   
(1,102
)    
(1,099
)    
(2,191
)    
(2,198
)
Less income allocated to participating securities
   
(379
)    
(420
)    
(435
)    
(552
)
Net income (loss) available to common stockholders
  $
2,434
    $
3,104
    $
(3,037
)   $
4,108
 
                                 
Continuing operations
  $
2,551
    $
1,016
    $
2,947
    $
1,355
 
Discontinued operations
   
(117
)    
2,088
     
(5,984
)    
2,753
 
    $
2,434
    $
3,104
    $
(3,037
)   $
4,108
 
                                 
Denominator:
                               
Denominator for basic earnings per share --
weighted-average shares
   
13,553,704
     
14,893,595
     
13,628,572
     
14,975,582
 
Effect of dilutive securities:
                               
Common stock options
   
48,836
     
125,717
     
53,575
     
123,363
 
Performance-based restricted stock units
   
5,036
     
-
     
5,036
     
 
 
Denominator for diluted earnings per share -- adjusted
weighted-average shares assumed conversion
   
13,607,576
     
15,019,312
     
13,687,183
     
15,098,945
 
                                 
Basic earnings (loss) per share:
                               
Continuing operations
  $
0.19
    $
0.07
    $
0.22
    $
0.09
 
Discontinued operations
   
(0.01
)    
0.14
     
(0.44
)    
0.18
 
    $
0.18
    $
0.21
    $
(0.22
)   $
0.27
 
Diluted earnings (loss) per share:
                               
Continuing operations
  $
0.19
    $
0.07
    $
0.22
    $
0.09
 
Discontinued operations
   
(0.01
)    
0.14
     
(0.44
)    
0.18
 
    $
0.18
    $
0.21
    $
(0.22
)   $
0.27
 
 
Income allocated to participating securities is calculated by allocating a portion of net income attributable to Providence, less dividends on convertible stock, to the convertible preferred stockholders on a pro-rata as converted basis; however, the convertible preferred stockholders are
not
allocated losses.
 
The following weighted average shares were
not
included in the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive:
 
 
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
 
2017
 
 
2016
 
 
2017
 
 
2016
 
Stock options to purchase common stock
   
46,478
     
33,957
     
144,811
     
33,957
 
Convertible preferred stock
   
803,398
     
803,455
     
803,398
     
803,486