Note 3 - Earnings per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Text Block]

Note 3.  Earnings per Share.

The computations of basic and diluted earnings per share from continuing and discontinued operations are as follows:

	Quarter Ended
	March 31,  2013			March 31, 2012
Continuing Operations:
Net income from continuing operations attributable to shareholders	$	71		$	1,876
Less:  Amounts allocated to participating securities (nonvested shares and units)(i)		(5	)		(141	)
Net income from continuing operations attributable to common shareholders	$	66		$	1,735
Discontinued Operations:
Discontinued operations attributable to shareholders	$	1,406		$	-
Less:  Amounts allocated to participating securities (nonvested shares and units)(i)		( 103	)		-
Discontinued operations attributable to common shareholders	$	1,303		$	-
Share information:
Basic weighted average common shares(ii)		16,999,146			16,916,304
Potential dilutive securities(iii)		-			3,004
Diluted weighted average common shares		16,999,146			16,919,308
Basic earnings per share
Income from continuing operations	$	-		$	0.10
Income from discontinued operations		0.08			-
Net income	$	0.08		$	0.10
Diluted earnings per share
Income from continuing operations	$	-		$	0.10
Income from discontinued operations		0.08			-
Net income	$	0.08		$	0.10

(i)   Participating securities include 917,372 and 1,199,661 nonvested restricted shares for the quarters ended March 31, 2013 and 2012, respectively as well as 421,014 and 174,000 restricted share units for the quarters ended March 31, 2013 and 2012, respectively.

(ii)   Under the two-class method, basic weighted average common shares exclude outstanding nonvested participating securities consisting of restricted share awards of 917,372 and  1,199,661 for the quarters ended March 31, 2013 and 2012, respectively.

(iii)   Anti-dilutive shares related to stock options totaled 20,000 and 28,000 for the quarters ended March 31, 2013 and 2012, respectively.