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Income Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Income Per Share

Note 2. Income Per Share

The Company has presented net income per common share pursuant to ASC 260 “Earnings Per Share.” Basic net income per common share is computed by dividing reported net income available to common shareholders by the weighted-average number of shares outstanding for the period.

Diluted net income per common share is computed by dividing reported net income available to common shareholders by the weighted-average shares outstanding for the period, adjusted for the dilutive effect of common stock equivalents, which consist of stock options, using the treasury stock method.

There were no anti-dilutive options for the years ended December 31, 2015, December 31, 2014, and December 31, 2013.

 

The table below sets forth the computation of basic and diluted net income per share:

 

     December 31,
2015		      December 31,
2014		      December 31,
2013		  
     (in thousands, except per share amounts)  

Net income (loss) available to common shareholders:

         

Basic net income available to common shareholders from continuing operations

    $ 12,398       $ 14,180       $ 7,478   

Basic net (loss) income available to common shareholders from discontinued operations

    $ (1,700 )     $ 4,715       $ 762   
  

 

 

     

 

 

     

 

 

  

Diluted net income available to common shareholders from continuing operations

    $ 12,398       $ 14,180       $ 7,478   

Diluted net (loss) income available to common shareholders from discontinued operations

    $ (1,700 )     $ 4,715       $ 762   
  

 

 

     

 

 

     

 

 

  

Shares:

         

Basic weighted average number of common shares outstanding

      4,001         4,139         4,138   

Common shares assumed upon exercise of stock options

      40         48         46   
  

 

 

     

 

 

     

 

 

  

Diluted weighted average number of common shares outstanding

      4,041         4,187         4,184   
  

 

 

     

 

 

     

 

 

  

Basic net income (loss) per common share:

         

Income from continuing operations

    $ 3.10       $ 3.43       $ 1.81   

(Loss) income from discontinued operations, net of tax

      (0.43 )       1.14         0.18   
  

 

 

     

 

 

     

 

 

  

Net income

    $ 2.67       $ 4.57       $ 1.99   
  

 

 

     

 

 

     

 

 

  

Diluted net income (loss) per common share:

         

Income from continuing operations

    $ 3.07       $ 3.39       $ 1.79   

(Loss) income from discontinued operations, net of tax

      (0.42 )       1.12         0.18   
  

 

 

     

 

 

     

 

 

  

Net income

    $ 2.65       $ 4.51       $ 1.97