Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 30, 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 June 30,

 

 

Six months ended June 30,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Basic weighted average common

   stock issued and outstanding

 

56,950,678

 

 

 

57,900,809

 

 

 

56,905,675

 

 

 

57,903,871

 

Dilutive options

 

586,040

 

 

 

659,475

 

 

 

487,442

 

 

 

881,937

 

Total dilutive shares

 

57,536,718

 

 

 

58,560,284

 

 

 

57,393,117

 

 

 

58,785,808

 

 

 

Options to purchase 2,207,224 and 2,407,224 share were excluded in the three months and six months ended June 30, 2014, because they would have been anti-dilutive.  Options to purchase 3,205,865 and 2,135,300 shares were excluded in the three months and six months ended June 30, 2013, because they would have been anti-dilutive.