Note 2 - Earnings Per Common Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

(2) Earnings per Common Share

Basic and diluted earnings per common share were computed as follows: 

	Three Months				Six Months
	Ended June 30,				Ended June 30,
(In thousands, except per share amounts)	2014		2013		2014		2013
Numerator:
Net income	$	7,926	$	7,667	$	13,213	$	14,869
Denominator:
Basic earnings per common share - weighted-average shares		33,369		33,210		33,355		33,196
Effect of dilutive stock options		327		168		307		148
Diluted earnings per common share - weighted-average shares and assumed conversions		33,696		33,378		33,662		33,344
Basic earnings per common share	$	0.24	$	0.23	$	0.40	$	0.45
Diluted earnings per common share	$	0.24	$	0.23	$	0.39	$	0.45

Options totaling 153,500 and 168,500 equivalent shares for the three-month and six-month periods ended June 30, 2014, respectively, and 463,200 and 571,100 equivalent shares for the three-month and six-month periods ended June 30, 2013, respectively, were outstanding but were not included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares or due to inclusion of average unrecognized compensation expense in the calculation.

Unvested performance unit awards totaling 46,805 equivalent shares for each of the three-month and six-month periods ended June 30, 2014, and 54,819 and 73,607 equivalent shares for the three-month and six-month periods ended June 30, 2013, respectively, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.