Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 3 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 2 – Earnings per Share 

 

Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period after giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of stock options and unvested shares granted to employees and directors.   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

December 31,

Denominator

2013

 

2012

Weighted average common shares outstanding - basic

 
28,479,597 

 

 
28,333,360 

Net effect of dilutive securities:

 

 

 

 

 

Options

 
169,967 

 

 
176,793 

Unvested restricted shares

 
148,836 

 

 
184,750 

Total net effect of dilutive securities

 
318,803 

 

 
361,543 

Weighted average common shares outstanding - diluted

 
28,798,400 

 

 
28,694,903 

Income per common share – basic

$
0.05 

 

$
0.12 

Income per common share – diluted

$
0.05 

 

$
0.12 

 

All the outstanding stock options and unvested restricted shares were included in the computation of diluted net income per share for the three months ended December 31, 2013 and 2012.