Note 2 - Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

(2) Earnings per Common Share

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

	Three Months
	Ended March 31,
(In thousands, except per share amounts)	2016		2015
Numerator:
Net income	$	8,193	$	10,188
Denominator:
Basic earnings per common share - weighted-average shares		32,454		33,458
Effect of dilutive stock options		185		303
Diluted earnings per common share - weighted-average shares and assumed conversions		32,639		33,761
Basic earnings per common share	$	0.25	$	0.30
Diluted earnings per common share	$	0.25	$	0.30

              Options totaling 330,400 and 160,800 equivalent shares for the three-month periods ended March 31, 2016 and March 31, 2015, 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 because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards totaling 57,205 and 48,861 equivalent shares for the three-month periods ended March 31, 2016 and March 31, 2015, 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.