Earnings per share

3 Months Ended

Mar. 31, 2012

Earnings per share

Earnings Per Share

Note 7 — Earnings per share

Earnings per share are calculated in accordance with ASC Topic 260, which specifies the computation, presentation and disclosure requirements for earnings per share (EPS).  It requires the presentation of basic and diluted EPS.  Basic EPS excludes all dilution and is based upon the weighted average number of common shares outstanding during the period.  Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.  At March 31, 2012, there were 643,000 anti-dilutive stock options outstanding.

The following is a reconciliation of the weighted average shares outstanding for the basic and diluted EPS computations (in thousands, except per share data):

	For the three months ended March 31,
	2012		2011
Income from continuing operations	$	1,035	$	741
Basic:
Shares outstanding at beginning of period		15,051		14,909
Weighted average shares issued during the period, net		32		15
Weighted average common shares, basic		15,083		14,924
Earnings from continuing operations per common share, basic	$	.07	$	.05
Diluted:
Weighted average common shares, basic		15,083		14,924
Dilutive impact of stock options and restricted stock awards		79		134
Weighted average common shares, diluted		15,162		15,058
Earnings from continuing operations per common share, diluted	$	.07	$	.05