NET INCOME (LOSS) PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2012

NET INCOME (LOSS) PER COMMON SHARE [Abstract]

Basic and diluted net income (loss) per common share

The following table is a reconciliation of net income (loss) and the shares used in calculating basic and diluted net income (loss) per common share for the three months ended September 30, 2012 and 2011 (in thousands, except for share and per share data):

	2012	2011
Numerator:
Net (loss) income - Basic	$ (5,468)	$   5,989
Effect of warrants	-	(240)
Net (loss) income- Diluted	$ (5,468)	$   5,749
Denominator:
Weighted average common shares outstanding - Basic	46,006,290	45,314,893
Effect of dilutive shares:
Common stock equivalents arising from stock options, warrants and ESPP	-	1,059,293
Restricted stock awards and units	-	425,371
Weighted average common shares outstanding - Diluted	46,006,290	46,799,557
Net (loss) income per common share:
Basic	$(0.12)	$    0.13
Diluted	$(0.12)	$    0.12

For the three months ended September 30, 2012, the effects combined unvested restricted stock awards and restricted stock units, and outstanding stock options of 1,447,301, and the impact of shares to be issued under the ESPP, which was minor, were excluded from the calculation of diluted EPS as their impact would have been antidilutive.

The following table is a reconciliation of net income (loss) and the shares used in calculating basic and diluted net income (loss) per common share for the nine months ended September 30, 2012 and 2011 (in thousands, except for share and per share data):

	2012	2011
Numerator:
Net income (loss)	$ 4,275	$(2,579)
Denominator:
Weighted average common shares outstanding - Basic	45,916,536	43,101,933
Effect of dilutive shares:
Common stock equivalents arising from stock options, warrants and ESPP	701,351	-
Restricted stock awards and units	294,670	-
Weighted average common shares outstanding - Diluted	46,912,557	43,101,933
Net income (loss) per common share:
Basic	$0.09	$ (0.06)
Diluted	$0.09	$ (0.06)