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Income Per Share
 6 Months Ended
Jun. 30, 2014
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, 2014

 

 

June 30, 2013

 

 

June 30, 2014

 

 

June 30, 2013

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before  discontinued operations

$
813 

 

$
(1,970)

 

$
1,600 

 

$
(1,993)

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

 

 -

 

 
(1,473)

 

 
(270)

 

 
(1,921)

Net income (loss)

$
813 

 

$
(3,443)

 

$
1,330 

 

$
(3,914)

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Basic – weighted shares outstanding

 
5,780 

 

 
5,694 

 

 
5,754 

 

 
5,691 

Weighted shares assumed upon exercise of stock options

 
301 

 

 

 -

 

 
219 

 

 

 -

Diluted – weighted shares outstanding

 
6,081 

 

 
5,694 

 

 
5,973 

 

 
5,691 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
0.14 

 

$
(0.34)

 

$
0.28 

 

$
(0.35)

Discontinued operations

 

 -

 

 
(0.26)

 

 
(0.05)

 

 
(0.34)

  Net income (loss) per share:

$
0.14 

 

$
(0.60)

 

$
0.23 

 

$
(0.69)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
0.13 

 

$
(0.34)

 

$
0.27 

 

$
(0.35)

Discontinued operations

 

 -

 

 
(0.26)

 

 
(0.05)

 

 
(0.34)

  Net income (loss) per share:

$
0.13 

 

$
(0.60)

 

$
0.22 

 

$
(0.69)

 

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. Individual components of basic and diluted income (loss) per share may not sum to the total income (loss) per share due to rounding.

 

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 period.