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Net Income Per Common Share (Tables)
12 Months Ended
Dec. 31, 2013
Net (Loss) Income Per Common Share [Abstract]  
Computation Of Net Income Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

 

2013

 

2012

 

2011

(dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(4,062)

 

$

14,617 

 

$

18,122 

Adjustment for interest expense on convertible notes, net of capitalized interest

 

 

 -

 

 

458 

 

 

119 

 

 

 

 

 

 

 

 

 

 

Net (loss) income, as adjusted

 

$

(4,062)

 

$

15,075 

 

$

18,241 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock outstanding

 

 

6,950,976 

 

 

6,874,669 

 

 

6,826,490 

Weighted average effect of dilutive stock options and other stock compensation

 

 

 -

 

 

151,223 

 

 

153,397 

Weighted average effect of assumed conversion of convertible notes (A)

 

 

 -

 

 

428,138 

 

 

158,937 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock outstanding, as adjusted 

 

 

6,950,976 

 

 

7,454,030 

 

 

7,138,824 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per common share - Basic

 

$

(0.58)

 

$

2.13 

 

$

2.65 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per common share - Diluted

 

$

(0.58)

 

$

2.02 

 

$

2.56 

 

 

(A)

The weighted average for the assumed conversion of the Notes was calculated from the August 18, 2011 issuance.