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Income Per Share
 6 Months Ended
Jun. 30, 2013
Income Per Share [Abstract]  
Income Per Share

11.  Income Per Share 

 

The following table presents a reconciliation between basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30, 2013

 

 

June 30, 2012

 

 

June 30, 2013

 

 

June 30, 2012

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before  discontinued operations

$
(1,970)

 

$
243 

 

$
(1,993)

 

$
846 

Loss from discontinued operations, net of income taxes (note 4)

 
(1,473)

 

 
(325)

 

 
(1,921)

 

 
(685)

Net income (loss)

$
(3,443)

 

$
(82)

 

$
(3,914)

 

$
161 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Basic – weighted shares outstanding

 
5,694 

 

 
5,670 

 

 
5,691 

 

 
5,662 

Weighted shares assumed upon exercise of stock options

 

 -

 

 

 -

 

 

 -

 

 
277 

Diluted – weighted shares outstanding

 
5,694 

 

 
5,670 

 

 
5,691 

 

 
5,939 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
(0.34)

 

$
0.04 

 

$
(0.35)

 

$
0.15 

Discontinued operations

 
(0.26)

 

 
(0.05)

 

 
(0.34)

 

 
(0.12)

  Net income (loss) per share:

$
(0.60)

 

$
(0.01)

 

$
(0.69)

 

$
0.03 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
(0.34)

 

$
0.04 

 

$
(0.35)

 

$
0.14 

Discontinued operations

 
(0.26)

 

 
(0.05)

 

 
(0.34)

 

 
(0.11)

  Net income (loss) per share:

$
(0.60)

 

$
(0.01)

 

$
(0.69)

 

$
0.03 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The dilutive impact summarized above relates to the periods when the average market price of Company stock exceeded the exercise price of the potentially dilutive option securities granted. Earnings per common share was based on the weighted average number of common shares outstanding during the periods when computing the basic earnings per share. When dilutive, stock options are included as equivalents using the treasury stock method when computing the diluted earnings per share.

 

Excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2013 were all options outstanding of approximately 1,434 common shares, due to the Company’s net loss in the periods. Excluded from the computation of diluted earnings per share for the six months ended June 30, 2012 were outstanding options to purchase approximately 329 common shares because the effect was anti-dilutive. All shares were excluded from the diluted earnings per share computation from the three months ended June 30, 2012 due to the net loss for the period.