Earnings Per Common Share

6 Months Ended

Jun. 30, 2017

Income (Loss) Per Common Share [Abstract]

Earnings per common share

Note 13.Earnings Per Common Share

We follow 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.  We have 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 if-converted method. For the three and six months ended June 30, 2017 and 2016,  58,139 and 68,139 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 in each of those periods.  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:

	For the three months ended June 30, 2017
	Income		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic EPS
Income available to common shareholders	$	3,007	30,133	$	0.10
Diluted EPS
Income available to common shareholders	$	3,007	30,237	$	0.10

	For the three months ended June 30, 2016
	Income		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic EPS
Income available to common shareholders	$	1,696	30,084	$	0.06
Diluted EPS
Income available to common shareholders	$	1,696	30,170	$	0.06

	For the six months ended June 30, 2017
	Income		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic EPS
Income available to common shareholders	$	4,819	30,128	$	0.16
Diluted EPS
Income available to common shareholders	$	4,819	30,230	$	0.16

	For the six months ended June 30, 2016
	Income		Average shares	Per share
(In thousands, except for per share data)	(numerator)		(denominator)	Amount
Basic EPS
Income available to common shareholders	$	3,551	30,073	$	0.12
Diluted EPS
Income available to common shareholders	$	3,551	30,141	$	0.12