Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share

Earnings Per Share

Note I - Earnings Per Share

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method.  Dilutive potential common shares include outstanding stock options and unvested shares.

Reconciliations of basic and diluted earnings per share (EPS) are as follows: 

	Three Months Ended March 31,
In thousands, except per share amounts	2015		2014
Basic EPS
Net income	$	1,615	$	1,845
Weighted-average common shares outstanding used in earnings per share computations	61,872		62,686
Earnings per common share	$	0.03	$	0.03
Diluted EPS
Net income	$	1,615	$	1,845
Shares used in diluted earnings per share computations	62,201		62,971
Earnings per common share	$	0.03	$	0.03
Computation of Shares Used in Earnings Per Share Computations
Weighted-average common shares outstanding	61,872		62,686
Weighted-average common equivalent shares- dilutive effect of stock options and awards	329		285
Shares used in diluted earnings per share computations	62,201		62,971

3.2 million and 3.6 million of anti-dilutive market price options have been excluded from the calculation of shares used in the diluted EPS calculation for the three months ended March 31, 2015 and 2014, respectively.  There were no anti-dilutive unvested shares excluded from the calculation of shares used in the diluted EPS calculation for the three months ended March 31, 2015 and 2014, respectively.