Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share

2.       EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. Diluted EPS assumes the exercise of all stock options, restricted and unrestricted shares having exercise prices less than the average market price of the common stock using the treasury stock method.

Diluted shares consist of the following:

 

 

Three months ended,

 

 

March 31,

2014

 

 

March 31,

2013

 

Basic weighted average common

   stock issued and outstanding

 

56,860,172

 

 

 

57,906,967

 

Dilutive options

 

-

 

 

 

1,163,025

 

Total dilutive shares

 

56,860,172

 

 

 

59,069,992

 

 

 

 

As the Company recognized a net loss for the three months ended March 31, 2014, there were no dilutive options. Options to purchase 4,542,350 and 1,018,900 shares were excluded in the three months March 31, 2014, and 2013, respectively, because they would have been anti-dilutive.