Earnings per share

9 Months Ended

Sep. 30, 2014

Earnings per share [Abstract]

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.

For the three and nine months ended September 30, 2014 there was no anti-dilutive stock options outstanding as the Company reported a net loss for both periods.  For the three and nine months ended September 30, 2013, there were 418,000 and 530,000, respectively, 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 September 30,			For the three months ended September 30,
	2014			2013
Income (loss) from continuing operations	$	(109	)	$	445
Basic:
Shares outstanding at beginning of period		15,590			15,401
Weighted average shares issued during the period, net		(13	)		4
Weighted average common shares, basic		15,577			15,405
Earnings from continuing operations per common share, basic	$	(0.01	)	$	0.03
Diluted:
Weighted average common shares, basic		15,577			15,405
Dilutive impact of stock options and restricted stock awards		-			41
Weighted average common shares, diluted		15,577			15,446
Earnings from continuing operations per common share, diluted	$	(0.01	)	$	0.03

	For the nine months ended September 30,			For the nine months ended September 30,
	2014			2013
Income (loss) from continuing operations	$	(1,617	)	$	324
Basic:
Shares outstanding at beginning of period		15,473			15,210
Weighted average shares issued during the period, net		25			18
Weighted average common shares, basic		15,498			15,228
Earnings from continuing operations per common share, basic	$	(0.10	)	$	0.02
Diluted:
Weighted average common shares, basic		15,498			15,228
Dilutive impact of stock options and restricted stock awards		-			25
Weighted average common shares, diluted		15,498			15,253
Earnings from continuing operations per common share, diluted	$	(0.10	)	$	0.02