Earnings Per Common Share

6 Months Ended

Jun. 30, 2014

10. Earnings Per Common Share

Earnings per common share for all periods have been calculated in conformity with ASC 260, “Earnings Per Share.” This data is based on historical net income and the weighted average number of shares of our common stock outstanding during each period as set forth in the following table:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
	(In thousands)
Shares:
Weighted average number of shares of common stock outstanding		23,459		23,414		23,453		23,406
Shares assumed issued (less shares assumed purchased for treasury) for stock-based compensation		Not applicable		136		198		110

Outstanding shares for diluted earnings per share calculation		23,459		23,550		23,651		23,516

A total of approximately 1.5 million shares in the three months ended June 30, 2014, approximately 1.4 million shares in the six months ended June 30, 2014, and approximately 1.6 million shares in the three and six months ended June 30, 2013 were excluded from the calculation of our diluted earnings per common share because the effect was anti-dilutive.