SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Computation of basic and diluted earnings per share

The computation of diluted weighted average common shares outstanding used in the calculation of diluted earnings per share for the three and nine months ended September 30, 2014 and 2013 is as follows (in thousands):

	For the three months ended September 30,				For the nine months ended September 30,
	2014		2013		2014		2013
Weighted average shares outstanding-basic		12,658		12,535		12,640		12,492
Stock Options		--		218		19		75
Restricted stock grants		--		41		9		30
Weighted average shares outstanding-diluted		12,658		12,794		12,668		12,597

Antidilutive securities excluded from computation of earnings per share

Securities that could potentially dilute basic EPS in the future, that were not included in the computation of diluted EPS because to do so would have been anti-dilutive for the three and nine months ended September 30, 2014 and 2013, consists of the following (in thousands):

	For the three months ended September 30,				For the nine months ended September 30,
	2014		2013		2014		2013
Options to purchase common stock		564		91		466		91
Unvested stock grants		67		–		31		–
Potential anti-dilutive common shares		631		91		497		91