Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.1.9
Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
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 restricted stock is outstanding on the date of grant and the exercise of all stock options 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,

 

 

 

2015

 

 

2014

 

Basic weighted average common stock issued and

   outstanding

 

 

57,981,347

 

 

 

56,860,172

 

Dilutive options and restricted stock

 

 

-

 

 

 

-

 

Total diluted shares

 

 

57,981,347

 

 

 

56,860,172

 

 

As the Company recognized a net loss for the three months ended March 31, 2015 and 2014, there were no dilutive options.            Options to purchase 5,772,271 and 4,542,350 shares were excluded in the three months ended March 31, 2015, and 2014, respectively, because they would have been anti-dilutive.