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NOTE 11. EARNINGS PER SHARE
The computation of earnings per share is as follows:
|
|
|
Three months ended
June 30, |
|
Six months ended
June 30, |
|
|
|
|
2011 |
|
2010 |
|
2011 |
|
2010 |
|
|
|
|
(in thousands except per share data) |
|
|
Basic earnings (loss) per share computation: |
|
|
|
|
|
|
|
|
|
|
Net earnings (loss) |
|
$ |
3,113 |
|
$ |
(774) |
|
$ |
4,494 |
|
$ |
(5,960) |
|
|
Earnings allocated to participating awards |
|
49 |
|
1 |
|
70 |
|
2 |
|
|
Net earnings (loss) applicable to common shareholders |
|
$ |
3,064 |
|
$ |
(775) |
|
$ |
4,424 |
|
$ |
(5,962) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
11,467 |
|
11,409 |
|
11,459 |
|
11,409 |
|
|
Basic earnings (loss) per share |
|
$ |
0.27 |
|
$ |
(0.07) |
|
$ |
0.39 |
|
$ |
(0.52) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share computation: |
|
|
|
|
|
|
|
|
|
|
Net earnings (loss) |
|
$ |
3,113 |
|
$ |
(774) |
|
$ |
4,494 |
|
$ |
(5,960) |
|
|
Earnings allocated to participating awards |
|
49 |
|
1 |
|
70 |
|
2 |
|
|
Net earnings (loss) applicable to common shareholders |
|
$ |
3,064 |
|
$ |
(775) |
|
$ |
4,424 |
|
$ |
(5,962) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
11,467 |
|
11,409 |
|
11,459 |
|
11,409 |
|
|
Assumed exercise of stock options |
|
28 |
|
- |
|
27 |
|
- |
|
|
Assumed satisfaction of restricted stock award conditions |
|
- |
|
- |
|
- |
|
- |
|
|
Assumed satisfaction of performance share incentive conditions |
|
- |
|
- |
|
- |
|
- |
|
|
Weighted average common shares outstanding |
|
11,495 |
|
11,409 |
|
11,486 |
|
11,409 |
|
|
Diluted earnings (loss) per share |
|
$ |
0.27 |
|
$ |
(0.07) |
|
$ |
0.39 |
|
$ |
(0.52) |
|
For the three months ended June 30, 2011 and 2010, 213,536 and 152,203 shares, respectively, of certain stock-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive. For the six months ended June 30, 2011 and 2010, 209,721 and 131,361 shares, respectively, of certain stock-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive. |