NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

7. NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

Basic and diluted net income per share available to common and potential common stockholders has been calculated based on the weighted average number of shares outstanding.

Options with exercise prices greater than the average market price of the Company’s stock during the periods are excluded from computation of diluted earnings per share. Options with exercise prices lower than the average market price of the Company’s stock during the periods are considered dilutive and are therefore included in the computation of diluted earnings per share.

The following table presents the number of options that are considered antidilutive and dilutive in the computation of diluted earnings per share:

	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Options excluded from calculation of diluted earnings per share		24,877		49,277		24,877		49,277
Dilutive options included in calculation of diluted earnings per share		16,500		—		16,500		—
Total number of options outstanding		41,377		49,277		41,377		49,277

The following schedule reconciles the numerator and denominator of the basic and diluted net income per share available to common and potential common stockholders for the three and nine months ended September 30, 2015 and 2014 (in thousands, except per share data):

	Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
Three Months ended September 30, 2015
Basic earnings per share available to common stockholders	$	361		2,190	$	0.16
Nonvested restricted stock grant		—		8		—
Effect of dilutive securities: options to purchase common shares		—		17		—
Diluted earnings per share	$	361		2,215	$	0.16
Nine Months ended September 30, 2015
Basic earnings per share available to common stockholders	$	1,018		2,183	$	0.47
Nonvested restricted stock grant		—		9		(0.01	)
Effect of dilutive securities: options to purchase common shares		—		17		—
Diluted earnings per share	$	1,018		2,209	$	0.46
Three Months ended September 30, 2014
Basic earnings per share available to common stockholders	$	317		2,169	$	0.15
Nonvested restricted stock grant		—		24		(0.01	)
Effect of dilutive securities: options to purchase common shares		—		—		—
Diluted earnings per share	$	317		2,193	$	0.14
Nine Months ended September 30, 2014
Basic earnings per share available to common stockholders	$	1,087		2,165	$	0.50
Nonvested restricted stock grant		—		24		—
Effect of dilutive securities: options to purchase common shares		—		—		—
Diluted earnings per share	$	1,087		2,189	$	0.50