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Calculation of Basic and Diluted Earnings per Share (Tables)
12 Months Ended
Dec. 31, 2013
Calculation of Basic and Diluted Earnings per Share (Tables)  
Schedule of Earnings Per Share, Basic and Diluted

 

Calculation of Basic and Diluted Earnings per Share

 

(in thousands, except per share amounts)

 

Years Ended December 31,

 

 

2013

 

2012

Numerator:

 

 

 

 

Net Income (Loss)

$

(1,616)

$

            5,028

Numerator for basic earnings per share- income (loss) available to common shareholders

 

(1,616)

 

5,028 

Effect of dilutive securities:

 

 

 

 

6% Convertible Debenture Interest Expense

 

 

22 

Numerator for diluted earnings per share - income (loss)available to common shareholders after assumed conversions

$

(1,616)

$

5,050 

 

 

 

 

 

Denominator:

 

 

 

 

Denominator for basic earnings per share- weighted-average shares

 

3,002 

 

2,781 

Effect of dilutive securities:

 

 

 

 

Employee stock options

 

 

30 

Warrants

 

 

447 

6% Convertible Debentures

 

 

136 

Dilutive potential common shares

 

 

613 

Denominator for diluted earnings per share -weighted-average shares and assumed conversions

 

3,002 

 

3,394 

 

 

 

 

 

Basic earnings per common share

$

(0.54)

$

1.81 

Diluted earnings per common share

$

(0.54)

$

1.49