Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.5.0.2
Net Income Per Share
9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
 
Basic net income per common share (“Basic EPS”), is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share (“Diluted EPS”) reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income per common share.

Following is a reconciliation of the numerator and denominator of Basic EPS to the numerator and denominator of Diluted EPS for the three and nine months ended September 30, 2016 and 2015 (dollar and share amounts in thousands, except for per share information): 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Net income attributable to common shareholders:
 

 
 

 
 

 
 

Net income from continued operations
$
4,155

 
$
1,962

 
$
8,792

 
$
8,878

Income from discontinued operations
$

 
$
804

 
$

 
$
2,116

Net income
$
4,155

 
$
2,766

 
$
8,792

 
$
10,994

 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
18,751

 
18,688

 
18,723

 
18,678

 
 
 
 
 
 
 
 
Basic earnings per share attributable to common shareholders:
 

 
 

 
 

 
 

Net income from continued operations
$
0.22

 
$
0.09

 
$
0.47

 
$
0.44

Income from discontinued operations
$

 
$
0.04

 
$

 
$
0.11

Net income
$
0.22

 
$
0.15

 
$
0.47

 
$
0.59

 
 
 
 
 
 
 
 
Diluted shares outstanding
 

 
 

 
 

 
 

Basic weighted-average shares outstanding
18,751

 
18,688

 
18,723

 
18,678

Stock-based awards
504

 
429

 
272

 
515

Diluted weighted-average shares outstanding
19,255

 
19,117

 
18,995

 
19,193

 
 
 
 
 
 
 
 
Diluted earnings per share attributable to common shareholders:
 

 
 

 
 

 
 

Net income from continued operations
$
0.22

 
$
0.08

 
$
0.46

 
$
0.43

Income from discontinued operations
$

 
$
0.04

 
$

 
$
0.11

Net income
$
0.22

 
$
0.15

 
$
0.46

 
$
0.57

 
 
 
 
 
 
 
 
Potentially dilutive shares excluded from diluted-per-share amounts:
 

 
 

 
 

 
 

Stock options
240

 
348

 
240

 
348

 
 
 
 
 
 
 
 
Potentially anti-dilutive shares excluded from diluted-per-share amounts:
 

 
 

 
 

 
 

Stock options
663

 
752

 
1,440

 
613


 
Potentially dilutive shares excluded from diluted-per-share amounts include performance-based options to purchase shares of common stock for which certain earnings metrics have not been achieved. Potentially anti-dilutive shares excluded from diluted-per-share amounts include both non-qualified stock options and unearned performance-based options to purchase shares of common stock with exercise prices greater than the weighted-average share price during the period and shares that would be anti-dilutive to the computation of diluted net income per share for each of the years presented.