Earnings per share

3 Months Ended

Mar. 31, 2016

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 months ended March 31, 2016 and 2015 there were 16,000 and 151,000 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 share and per share data):

	For the three months ended March 31,
	2016		2015
Income from continuing operations	$	15	$	192

Basic:
Shares outstanding at beginning of period		15,645		15,592
Weighted average shares issued during the period, net		1		4
Weighted average common shares, basic		15,646		15,596
Income from continuing operations per common share, basic	$	0.00	$	0.01
Diluted:
Weighted average common shares, basic		15,646		15,596
Dilutive impact of stock options and restricted stock awards		77		114
Weighted average common shares, diluted		15,723		15,710
Income from continuing operations per common share, diluted	$	0.00	$	0.01