Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2014

Income (Loss) Per Common Share [Abstract]

Income (Loss) Per Common Share

Note 13.Earnings (Loss) Per Common Share

The Company follows the provisions of FASB ASC Topic 260, “Earnings per Share” (“ASC Topic 260”).  Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period.  The Company has two classes of common stock currently outstanding. The classes are A and B, of which one share of Class B is convertible into 1.15 shares of Class A.  Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock using the treasury stock method. For the three and nine months ended September 30, 2014 and 2013,  168,907options to purchase shares of common stock, respectively, were anti-dilutive in the computation of diluted EPS, as the exercise price exceeded average market price in each of those periods.  For the three and nine months ended September 30, 2013,  202,408 options to purchase shares of common stock, respectively, were anti-dilutive in the computation of diluted EPS, as the exercise price exceeded average market price and as a result of the net loss for the the three and nine months ended September 30, 2013.  Additionally warrants to purchase 1,368,040 shares of Class A common stock were also anti-dilutive.

Basic and diluted EPS are calculated as follows:

	Three months ended  September 30, 2014
	Income		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic and Diluted EPS
Income available to common shareholders	$	1,271	27,329	$	0.05

	Three months ended  September 30, 2013
	Loss		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic and Diluted EPS
Loss available to common shareholders	$	(178)	13,286	$	(0.01)

	Nine months ended September 30, 2014
	Income		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic and Diluted EPS
Income available to common shareholders	$	2,654	18,042	$	0.15

	Nine months ended September 30, 2013
	Loss		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic and Diluted EPS
Loss available to common shareholders	$	(1,896)	13,272	$	(0.14)